§ 48. Lieut.-Colonel ACLAND-TROYTE (for Major Sir HERBERT CAYZER)
asked the Chancellor of the Exchequer the amount of increased revenue received by the Treasury from their holding of Suez Canal shares since this country abandoned the Gold Standard, seeing that the dividends on these shares are now being paid in gold francs; and whether he will consider assisting British shipping by passing on the whole, or part, of the increase to British ships using the Suez Canal, in view of the fact that practically all vessels under foreign flags are in receipt of subsidies from their respective Governments?
§ Major ELLIOT
The sterling equivalent at par of the sums received by the Treasury in respect of the years 1930 and 1931 was £1,868,000 and £1,696,000 respectively. The latter figure would become £2,277,000 at the current rate of exchange. Future receipts will be influenced by such factors as the diminution of traffic owing to the economic crisis and the recent reduction by about 10 per cent. in the dues charged to all shipping. I regret that I am not prepared to adopt the suggestion in the latter part of the question.