§ 25. Mr. Awberyasked the Minister of Transport and Civil Aviation what was the total contribution made by British shipping, both dry cargo ships and oil tankers, for each of the past five years, to the invisible exports of the United Kingdom; and what official action is being taken to develop and encourage this industry.
§ Mr. HayIt is estimated that the United Kingdom dry cargo shipping industry made net contributions to the 1229 United Kingdom balance of payments of £210 million in 1954, £240 million in 1955, £280 million in 1956 and £300 million in 1957. The provisional estimate for 1958 is £260 million. Similar estimates are not available for oil tankers. It is the Government's policy to encourage the expansion of world trade upon which the prosperity of British shipping depends.
§ Mr. AwberyIs the Minister aware that this is a very substantial contribution to the country's revenue but that there are obstacles in the way of this industry developing? Is he aware that hon. Members have expressed in the House their dissatisfaction with the help given by the State? Will he take steps to overcome the difficulties in the way of development of the industry?
§ Mr. HayThere are a number of difficulties affecting the industry which are not within our power to deal with. There are, for example, the trading practices of some of the maritime nations, as the House very well knows. We are doing what we can in conjunction with other maritime nations in Europe to investigate these to see whether some international agreement cannot be reached.