HC Deb 15 December 1925 vol 189 cc1163-4
2. Sir ROBERT THOMAS

asked the President of the Board of Trade whether he is aware that the directors of the Silver Line, Limited, are also directors of Joseph L. Thompson and Sons, Limited, and James Laing and Sons, Limited, the builders of the steamers for the Silver Line, Limited, the debentures of which company, amounting to £1,107,000, have been guaranteed as to principal and interest by His Majesty's Government; whether, in view of the prices agreed to be paid to the builders, he will say if tenders for these steamers were obtained from other builders and, if so, state the prices; whether His Majesty's Government, under the Trade Facilities Act, confine their guarantees for advances on shipping to companies building ships with internal combustion engines; and, if so, why this course is adopted?

Mr. McNEILL

I am aware that the chairman of the Silver Line, Limited, is also chairman of Joseph L. Thompson and Sons, Limited, and of James Laing and Sons, Limited, and that one of the other directors of the Silver Line, Limited, is also a director of James Laing and Sons, Limited. The remaining two directors of the Silver Line, Limited, are not directors of either of the other two companies. The answer to the second part of the question is in the negative, but the Advisory Committee were satisfied that the prices were reasonable. They are well acquainted with the prices of similar ships, and of the ships previously supplied by the builders. The answer to the third part is in the negative and the fourth part, therefore, does not arise.

Sir R. THOMAS

Is the right hon. Gentleman aware that the prices agreed to be paid for these steamers are regarded by those acquainted with shipbuilding as excessive; and having regard to the connection between the owning company and the shipbuilding company, does not the right hon. Gentleman think it prudent that His Majesty's Government, before guaranteeing large sums, should satisfy themselves that the prices are correct prices and competitive prices?

Mr. McNEILL

I have already said that the Advisory Committee satisfied themselves as to the prices.

Sir R. THOMAS

The right hon. Gentleman said, at the same time, that tenders were not obtained. How is he to satisfy himself as to the prices?

Mr. McNEILL

By the knowledge of the Advisory Committee.

Sir R. THOMAS

May I also ask the right hon. Gentleman—

Mr. SPEAKER

The hon. Member has already put two Supplementary Questions.

Sir R. THOMAS

On another point, which has not been elucidated, may I ask the right hon. Gentleman, as this matter is exercising public opinion—

Mr. SPEAKER

The hon. Member must be brief and quick.

Sir R. THOMAS

Is the right hon. Gentleman not aware that at the present time 6,750,000 tons of British shipping are idle; and, having regard to that fact, does he think it prudent for His Majesty's Government to guarantee money to build new steamers?

Mr. SPEAKER

That is an argument, not a question.