§ 19. Mr. GRIFFITHSasked whether the mine owners are guaranteed their standard profits without any deduction in respect of the loss incurred by the cessation of work in the mines during the present dispute?
§ Mr. BRIDGEMANNo, Sir. Mine owners will not receive their standard profits unless the aggregate profits of the industry are sufficient for this purpose. The guarantee given by The Coal Mines (Emergency) Act, 1920, that, in the event of the total profits of the industry being reduced below nine-tenths of the total standard profits, the reduction should be made good, only applies if and in so far as that reduction may have been caused by any order, regulation, or direction issued by the Controller, or by the Board of Trade, after the 1st January, 1920.