The Goverment proposed also to make available £10,000,000 for loans to ship-owners over a period of two years, on favourable terms, for the purpose of building in Great Britain ramps and cargo liners—other than refrigerated vessels and passenger ners—including tramp and cargo vessels intended for the coastal trade.
Loans would be made on financial terms similar to those under the "scrap and build" scheme of 1935. No condition as to scrapping old vessels would, however, be attached.
Finally, the Government had decided that the present situation called for a further exceptional measure, to increase the amount of tonnage under the British flag.
Text read from the printed page and cleaned; old type leaves the occasional error.