§ Mr. KIRKWOOD(by Private Notice) asked the Prime Minister whether he is prepared to make any statement with regard to the resumption of work on the new Cunard liner?
§ The PRIME MINISTERThere was another question that was handed in today by the hon. Member for Plaistow (Mr. W. Thorne). The answer to that question covers what I have to say in reply to the hon. Member. In reply to both questions, the statement that I have to make is as follows:
I, of course, accept unreservedly the statement of the Cunard Company's chairman in his circular letter of the 27th January. For the rest, the position remains as stated by my right hon. Friend the President of the Board of Trade in his reply to a question by the hon. Member for Dumbarton Burghs (Mr. Kirkwood) on the 11th December, and in his answers to supplementary questions put on that day. The Government have not been approached by the Cunard Company and if they are approached, they will, as stated on the 11th December, give careful consideration to any proposals made, but the Government cannot undertake to give direct financial assistance in this case.
§ Mr. KIRKWOODWhat has the Prime Minister to say in reply to the circular that was issued to the shareholders on the 27th January?
They have never lost faith in the company's ability to operate her"—that is, the new ship—either with existing ships or later with her future sister, in such a manner as will enable her to pay her way, and, if opportunity is afforded, they will lay before His Majesty's Government the facts upon which the company's views are based.
§ The PRIME MINISTERThose points were intended to be covered by my answer. The first point is that we accept what they say in the circular of the 27th January. The second point is that
The Government have not been approached by the Cunard Company, and, if they are approached, they will, as stated on the 11th December, give careful consideration to any proposals made, but they cannot undertake to give direct financial assistance in this case.
§ Mr. THORNECan the Prime Minister or the President of the Board of Trade state the real causes why the company stopped the work? Was it due to the extra charge for the increased interest they had to pay between the time when the contract was given and the increase of the Bank Rate?
§ The PRIME MINISTERIf the hon. Member will put that question on the Order Paper, my right hon. Friend the President of the Board of Trade will give what answer he can to it.
§ Mr. HOPKINSONIs not the real reason for the stoppage of the work that the late Labour Government left so few millionaires that there is no demand for luxury ships?
§ The PRIME MINISTERI have no objection to putting as many virtues upon the late Labour Government as it can bear, but I cannot say that the late Government was responsible for the condition of millionaires in America.
Mr. PRICECan the right hon. Gentleman say whether we have not now definite proof that capitalism has failed?
§ Mr. KIRKWOODMay I take it that His Majesty's Government are quite prepared to receive representations from the Cunard Company with a view to the work being put in hand at once so far as the building of the ship is concerned?
§ The PRIME MINISTERI made it perfectly clear that the Government are always prepared to receive representations from the company.
§ Mr. THORNEMay I ask the Prime Minister or the President of the Board of Trade, or both together, whether, assuming that a deputation waits upon them from the company and they want financial assistance, they will consider the 29 advisability of granting them some help, in some shape or form, at the lowest possible rate of interest?
§ The PRIME MINISTERIt is obvious that the deputation, or whatever form the representation takes, can approach the President of the Board of Trade. I have stated the conditions laid down on the 11th December, that any representations that may be made will be considered, with the warning that those conditions will have to be observed.