§ 55. Mr. Willeyasked the Minister of Transport what factors resulted in the tonnage commenced in British shipyards last quarter being the lowest for any quarter since March, 1939.
§ Vice-Admiral Hughes HallettThe low level of tonnage commenced in the first quarter of this year is mainly a reflection of the low level of ordering over the last few years. The world's shipbuilding capacity has greatly expanded since 1939, and this has aggravated the present situation. Many yards abroad as well as at home are having to take orders at a loss.