§ 80. Commander Courtneyasked the President of the Board of Trade to what extent the United Kingdom is a net exporter of shipping services in view of the deficit of£11 million in 1963 in the shipping account of the balance of payments; what proportion of this deficit he estimates to be due to the policies of certain countries in discriminating in favour of their national shipping lines and in selling cost, insurance and freight and buying free on board; and if he will make a further statement.
§ Mr. MasonIn the shipping account for 1963 gross payments by overseas residents to U.K. shipowners totalled£571 million; gross payments by U.K. residents to foreign shipowners totalled £364 million; the U.K. is thus a net exporter of shipping services to the extent of£207 million. The difference between this figure and the deficit of£11 million is accounted for by disbursements abroad by U.K. shipowners of£307 million, less disbursements in the U.K. by foreign shipowners of£89 million. Flag discrimination, although distinctly harmful in particular trades, has only minor effects on the shipping account as a whole.