Government Help for Shipping Considerations of defence have made urgently
necessary the measures for the relief of British shipping which Mr. Oliver Stanley announced this week. Whilst, however, the British Mercantile Marine will be able to play a more important part in defence against war-time dangers as a result of Government support, it should now also be better able to compete against other State-subsidised shipping industries in times of peace. Financial support for the building of mer- chant ships will help to sustain a section of the industry that has been particularly hard hit by the rise in price of raw materials owing to the competition of rearmament. The tramp shipping industry, which asked for a yearly subsidy of two and a half millions, is to have the unusual experience of receiving slightly more than was asked for. The liner com- panies are to have the advantage of an advisory body who will consider difficult cases and make recommendations to the Government and Parliament. Further sums of i500,000 a year for tramp and liner building in British yards, Z: o,000,000 for loans over a period of two years to aid con- struction in this country, and an allocation of £2,000,000 for the purchase of an emergency reserve of vessels which would otherwise be broken up or sold to foreigners, indicate that the Government is tackling the problem on a large scale.
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