HC Deb 17 December 1935 vol 307 cc1542-3
43. Mr. THURTLE

asked the President of the Board of Trade whether he is keeping under close supervision the profit-and-loss accounts of those owners of tramp shipping who are receiving the State subsidy; how frequently such accounts are submitted to his Department; and what action, if any, he takes when he finds that excessive profits, over and above the average return on industrial capital, are being made as a result of these subsidies?

Mr. RUNCIMAN

I am keeping under close observation the general condition of the tramp shipping industry, and it is in view of that condition that Government assistance is being given, as will be seen from the reply given by my hon. Friend to the hon. and gallant Member for the Isle of Wight (Captain P. Macdonald) on 10th December.

Mr. THURTLE

Will the right hon. Gentleman take steps to withdraw the subsidy in any case where he finds that excessive profits are being made?

Mr. RUNCIMAN

I am afraid there are no signs of excessive profits at present.

Mr. BELLENGER

Will the right hon. Gentleman give that undertaking?

52. Mr. THURTLE

asked the President of the Board of Trade whether, for the information of new Members of the House, he will state where full information can be obtained regarding the tramp-shipping subsidy and its method of operation; and whether he proposes to make known to the House any of the information obtained by the detailed examination of the operation of the subsidy which has recently been completed?

Mr. RUNCIMAN

Full information, regarding the tramp-shipping subsidy and its method of operation is to be found in the British Shipping (Assistance) Act, 1935, and in the Memorandum on the Financial Resolution which preceded it (Cmd. 4754). As regards the second part of the question, a statement will, of course, be made on behalf of the Government when the legislation to provide subsidy for a further year is before the House. Meantime, I would refer the hon. Members to the interim report of the Tramp-Shipping Administrative Committee which was laid before Parliament in October last (Cmd. 5004).