London, Mar. 28.
UBSIDIES to shipping and shipbuilding were announced in the House of Commons today by Mr. Oliver Stanley, the President of the Board of Trade, who recalled that the importance of these industries did not rest only on the contribution they made to the country's economic resources, but that they were also an essential part of national defence. Mr. riley intimated that an annual sum of £ 2,750,000 would be available over a period of five years for tramp shipping-—the scheme following the general lines of the former scheme, dating from 1935.
As regards liners, it was proposed to appoint an Advisory Committeb for an experimental period of two years to examine and advise the Government on requests for assistance from liner companies, whose services were endangered by subsidized foreign competition.
Parliament would be asked to make financial provision, to enable the Government to grant financial assistance promptly in cases where they decided it was necessary.
In cases in which other parts of the British Commonwealth were concerned, there would be consultation.
Text read from the printed page and cleaned; old type leaves the occasional error.