§ 60. Mr. S. N. Evansasked the Chancellor of the Exchequer whether he will require an additional guarantee in connection with the sale of Trinidad Oil Limited, namely, that oil from Trinidad and the Middle East, sold by the Texas Oil Company in this country, will be transported in British-built tankers trading under the British flag.
§ Sir E. BoyleNo, Sir.
§ Sir E. BoyleBecause our general policy is and will remain one of strong opposition to flag discrimination.
§ Mr. EvansIs not the Economic Secretary aware of the vast and increasing tonnages of oil which have been brought here, for sale in this country, in Greek ships which pay no taxes here and which are financed by New York financial institutions and the oil companies? How are we to pay dividends on the oil sold and to pay for all that we import from America if this underhand method of defeating British competition is resorted to?
§ Sir E. BoyleWe all recognise the hon. Member's patriotism, but I fear that he will not be successful in converting my right hon. Friend to a doctrine of economic nationalism, because that would not pay this country.
§ Mr. PagetSurely this is the greatest possible nonsense—this ever-increasing number of ships sailing under "phoney" flags of, substantially, imaginary countries?