§ Lieut.-Commander KENWORTHYasked the Chancellor of the Exchequer whether the proceeds of the sale of merchant ships built to the order of His Majesty's Government and sold to foreigners is to be counted as revenue for the present financial year; what is the total amount realised by these sales, and whether it is intended that the sums to be realised by the sale of the merchant ship tonnage handed over by Germany under the terms of the Peace Treaty is also to be counted as revenue?
Mr. CHAMBERLAINThe total sum realised during the current financial year from the sale to foreigners of merchant vessels built to the order of His Majesty's Government is £12.900,000. The proceeds of sale of all merchant vessels belonging to His Majesty's Government are accounted for by the Shipping Controller as receipts under the Shipping Vote. The accounting procedure, as regards the sale of merchant tonnage to be handed over by Germany under the Treaty of Peace, has not yet been laid down. It is improbable, however, that any of these vessels will be sold during the current financial year.