§ 10. Major Sir HERBERT CAYZERasked the President of the Board of Trade whether he has any information indicating the increased cost to British 169 shipping using the Suez Canal since this country abandoned the Gold Standard, in view of the fact that the canal dues have to be paid on a gold franc basis?
§ Mr. HORE-BELISHAAt the date of our departure from the Gold Standard the Suez Canal dues were 6.65 francs per ton on the Suez Canal measurement for loaded vessels and 3.325 francs per ton for vessels in ballast. Since then the Suez Canal Company has reduced the dues by about 10 per cent., i.e., to 6 and 3 gold francs respectively. Taking the pound at approximately 93 francs, the increased cost to British shipping using the canal is about 1s. 1d. per ton for loaded vessels, and 6½d. for vessels in ballast.
§ Sir H. CAYZERIn view of the subsidies given by foreign countries to their shipping, and in view of the fact that this is found money to the British Government, will the hon. Gentleman consider remitting this money to British shipping?
§ Mr. HORE-BELISHAWhile the Government regard the nature of the question with sympathy, it is not a matter for them but for the Suez Canal Company.