§ Lord Amherst of Hackney
asked Her Majesty"s Government:
Whether, in the light of their refusal to grant the British mercantile marine fiscal arrangements that take into account the volatility of ship values (a factor recognised by all other maritime nations) they will act to preserve the future of maritime London, and its associated businesses, by implementing a British Open Register, as proposed by the Baltic Exchange, to attract tonnage which is seeking the legality and safety of an effectively run international register and which will bring representative offices to the United Kingdom.
§ Lord Mackay of Ardbrecknish
A proposal for a British Open Register put to Ministers by the Baltic Exchange on 3 December last raised a number of complex issues which required careful study by several departments of state. This is almost completed and I expect an announcement to be made shortly.