Hitherto the British Government has not Jextended the privileges of the Export Credits Guarantees to the shipbuilding industry. The view was held that such credits or guarantees might undesirably increase the surplus world tonnage, In the House of Commons last month Miss Irene Ward, the Unionist Member for Wallsend, pointed out that this refusal had not prevented the increase in world tonnage but had undoubtedly militated against the prosperity of the British shipbuilding industry, When shipyards were experiencing acute depression in Great Britain orders for ships had been placed abroad with other countries, for want of specific credit inducements to patronize British yards. Mr. R. S. Hudson, the newly appointed Secretary to the Department of Overseas Trade, was evidently moved by Miss Ward's plain statement of fact. He promised to give her arguments sympathetic consideration, It is now announced that the shipbuilding industry is to have the credits like other industries —a proof of the prestige which the Export Credits Oeha has earned, as well as of the efficacy of a private member's advocacy when she takes the precaution to master her brief.
Text read from the printed page and cleaned; old type leaves the occasional error.