HC Deb 07 July 1936 vol 314 cc1010-2
33. Mr. DAY

asked the President of the Board of Trade the latest information he has as to how, and on what conditions, the Italian, French, and German Governments assist their nationals in financing the construction and insurance of liners and other ships?

Mr. RUNCIMAN

With the hon. Member's permission, I will circulate a statement on this subject in the OFFICIAL REPORT.

Mr. DAY

Can the right hon. Gentleman say whether these Powers are very much more generous in their treatment of their shipping companies as regards insurance cover than we are?

Following is the statement:

The following paragraphs briefly sumcarise such information as is available regarding measures now in operation for granting direct financial assistance for the construction and insurance of merchant ships in Italy, France and Germany. It will be appreciated that complete information on such subjects cannot be obtained in all cases.

Italy.

Construction.—In addition to direct construction bounties the Italian Government facilitate the provision of funds from which loans can be obtained for the construction of vessels in Italy, and make substantial contributions towards the interest charged on such loans.

Insurance.—No complete information is available, but assistance was given by the Italian Government in respect of the insurance of the vessels "Rex" and "Conte di Savoia" while under construction.

France.

Construction.—In addition to special measures of assistance to individual French Shipping Companies (notably the Compagnie Generale Transatlantique and the Compagnie de Navagation Sud-Atlantique) to enable them to construct certain large and fast vessels, the French Government facilitate the provision of funds from which loans can be obtained for the construction of vessels in France, and make substantial contributions towards the interest charged on such loans.

Insurance.—No complete information is available, but it is understood that the building risk of the "Normandie" was insured partly in the open market and partly by the Government, and that the Government took over the insurance of the marine risk so far as it was not covered by the market.

Germany.

Construction.—No information is available as to any general scheme being now in operation for assisting the building of ships in Germany, but the German Government are stated to be financing new building by certain of the Germany shipping lines. No details of these transactions are, however, available.