§ 65. Mr. RANKINasked the President of the Board of Trade whether, with a view to relieving the present depression, the Government will consider arranging for the international review of the whole question of the Suez Canal charges, on the ground that their incidence is prejudicial to the recovery of world shipping and trade?
§ The PRESIDENT of the BOARD of TRADE (Mr. Runciman)The question of the Suez Canal charges is a matter for the Suez Canal Company, which is a private company holding a concession from the Egyptian Government. There are on the board of the company seven non-official British directors, representing British shipping and commercial interests, who have the question of charges continually under their consideration. The three official directors, nominated by His Majesty's Government, will be prepared to agree to any reasonable reduction in these charges.
§ Mr. HAMMERSLEYWill the right hon. Gentleman consider representing to his colleague, the Chancellor of the Exchequer, the desirability of the whole of this matter of the ownership of the Suez Canal being taken into consideration when the final settlement of the French debt is made?
§ Mr. RUNCIMANI am quite awe that my right hon. Friend was listening to my hon. Friend.
Captain CAZALETIs the right hon. Gentleman aware that, owing to the existing charges, British cargo boats find it cheaper to go round the West Coast of Africa than through the Suez Canal?
§ Mr. RUNCIMANYes, Sir. That is one of the considerations which I believe the Government representatives on the Suez Canal Board have brought to the attention of the board.