§ MR. HERBERT LEWIS (Flint Boroughs)I beg to ask Mr. Chancellor of the Exchequer whether he is aware that loss will be sustained by importers of sugar who in December last, before the imposition of any duty on sugar was contemplated, made contracts to purchase foreign refined sugar at fixed prices for forward delivery during the current year; and will he consider whether relief can be extended to them in respect of such loss.
§ SIR M. HICKS BEACHProvision is made in the law under which such an importer as the question refers to 598 could, in respect of any sugar delivered after the imposition of the duty under contracts of December last, add the amount of the duty to the price fixed in the contract. The hon. Member suggests in a letter with which he has favoured me that this cannot practically be done in the case to which the question refers, because there has lately been a change in the relative values of English and foreign refined sugar. If this has been the case, of which I have no knowledge, I do not see that it would give the importer any claim—his loss would be due to unfortunate speculation.
§ MR. HERBERT LEWISMay I ask the right hon. Gentleman whether he is not aware that the change in question has been largely due to the imposition of the tax?
§ SIR M. HICKS BEACHNo, Sir.