6 JULY 1934, Page 7

Mr. Runciman, indeed, has had a bad week, for his

statement on Government assistance to the Shipping Industry was received with cold incomprehension. Members were clearly expecting an unconditional sub- sidy, and when they found the Minister apparently as deeply impressed by cut-throat competition between shipowners as by the subsidization of foreign shipping, they were deeply disappointed. A debate will no doubt clear up the point what exactly is meant by a." defensive 7 subsidy.