asked the Minister of Transport if the steamer "Samkey" which was recently lost at sea was insured; for how much; and with whom.

The "Samkey" was on bareboat charter to His Majesty's Government from the United States Government and, in accordance with normal practice, was not insured.

May I take it that the British taxpayer bore the loss? Will the right hon. Gentleman give an assurance that in future a proper business procedure will be adopted and that these ships will be insured at Lloyds?

This is a far better business procedure than that suggested by the hon. Gentleman. It has turned out very much to our advantage to carry this risk ourselves, taking into account the whole of the chartering which the Government have done.