HC Deb 10 February 1937 vol 320 cc385-6
23. Captain Cunningham-Reid

asked the First Lord of the Admiralty what is the value of the stock of war time gun mountings for armed merchant ships still held by the Admiralty; what proportion of such value is written off yearly; and what system of occasional inspection or review of this material is employed to guard against its retention in store when obsolete and to ensure the necessary replacements?

Sir S. Hoare

The ledger value of the gun mountings allocated to armed merchant cruisers, fast liners and defensively equipped merchant ships is approximately £2,500,000. The values of this stock are reduced by 4 per cent. annually to allow for obsolescence. These mountings are regularly inspected, and steps are taken to maintain them in an efficient condition ready for use.

Mr. A. V. Alexander

Does the First Lord consider that an allowance for depreciation under which it is 25 years before obsolescence arrives is sufficient for dealing with a stock of this kind?

Sir S. Hoare

I understand that that has always been the percentage, but I will look into it again and see if there is any reason for putting it higher.