§ 5. Major Sir K. FRASERasked the President of the Board of Trade if he is aware that during the War the Steels and Busks Company, Limited, was started in Leicester, and but for their intervention several of the English corset manufacturers would have closed down; that before the War this industry was almost entirely in the hands of Germany, certain quantities coming over from America; that the Steels and Busks Company, Limited, have beaten the American competition, even without taking into consideration the rate of exchange, but that it is absolutely impossible for them to compete against prospective German competition, although the Germans do not at present appear to be delivering these goods to any extent to this country; that they are attracting the markets nearest to them first, for instance, Sweden, where these goods can be bought 30 per cent, cheaper from Germany; and that the British manufacturers foresee in the near future an attack on our market which may, and probably will, cause factories here to close down unless the Government comes to the assistance of the industry; and what action does he propose to take and when?
§ Sir R. HORNEI am aware of the circumstances in which the company named by my hon. and gallant Friend was started. As I have already informed him, the effect of exchange fluctuation on industry is being carefully considered.
§ Lieut.-Commander KENWORTHYIs corset-making considered a key industry?
§ Sir K. FRASERWould the right hon. Gentleman consider the question of introducing a Bill which will affect the financial exchanges?
§ Sir R. HORNEI am considering that very topic now.