§ 67. Mr. HOHLERasked the Parliamentary Secretary to the Ministry of Munitions if he will give the names of the 35 articles comprised under the head, Fertilisers Account, on which the profit of £237,000 was made; and explain how they make this profit, and state what profit per ton his Department makes and exactly what his Department does to earn this profit?
Mr. HOPEThe articles comprised under the head "Fertilisers" are phosphate rock, pyrites, and sulphate of ammonia. The sum of £237,000 mentioned in the question does not represent profit, but is the excess of cash receipts over cash payments for the period under review, namely, 1st April, 1919, to 30th September, 1919. My hon. and learned Friend will see that this is a very different thing from a realised profit on the transaction as a whole.
§ Mr. HOHLERWhat does the Government do to earn this money? That is what we want to get at.
§ Earl WINTERTONWill the hon. Gentleman give an undertaking that this profit has not been made by selling fertilisers to farmers at a price greater than the Department gave for them?
Mr. HOPEIt is not profit. My Noble Friend may have an excellent balance at his bankers on one day, but it does not follow on that account that he is living within his income.
§ Mr. HOLMESDoes not the answer of the hon. Gentleman mean that the stock in hand has not been taken into account, and, therefore, the profit is far more than the figure shown on the Paper?
Mr. HOPEIf my hon. Friend means that the stock has not yet been disposed of, that is true. The transaction began before the beginning of this financial year, and I do not know whether it will be concluded within the financial year.