§ 3. Mr. STOREY
asked the President of the Board of Trade the steps he proposes to take to help British 'shipping to meet foreign subsidised competition; and whether it is the intention of the Government to introduce legislation for this purpose?
§ Mr. RUNCIMAN
Since the statement I made in the House on the 3rd July, the shipowners have been working out a scheme to meet the Government conditions for the grant of a subsidy to vessels carrying tramp cargoes under tramp conditions. A scheme was submitted to the Government on 28th September and is now under discussion with the shipowners' representatives. Legislation will be necessary to bring a subsidy scheme into operation. Communications on the lines indicated in my statement have been sent to the Dominions and India and to certain foreign countries. I understand from the Chamber of Shipping that steps are being taken to convene an international conference of shipowners to frame proposals tending to adjust the supply of tonnage in the world to the demand.
§ Mr. STOREY
Can the right hon. Gentleman say when it is likely that legislation will be introduced in this matter?
§ Mr. KIRKWOOD
I would like to ask the President of the Board of Trade if the Cabinet have discussed the advisability of nationalising the shipping industry?