HC Deb 10 July 1923 vol 166 cc1146-7
6. Mr. A. V. ALEXANDER

asked the President of the Board of Trade whether his attention has been called to the fusion of nine companies engaged in the wholesale and retail distribution of imported meat with the Union Cold Storage Com pany, Limited, the stated object of the amalgamation being to put the company into an unrivalled position in addition to greatly increasing their revenue; whether he proposes to take any steps with a view to protecting the consumers against any attempt to exploit them by such a com- bination; and whether he will now recommend the Government to carry out the promise he made in March, 1921, to introduce legislation dealing with trusts and combines?

Sir P. LLOYD-GREAME

The answer to the first part of the question is in the affirmative. As regards the second part, I have at present no reason to suppose that the consolidation now contemplated will be disadvantageous to consumers. The Government do not consider it necessary or desirable to introduce general legislation of the kind referred to at the present time.

Mr. ALEXANDER

Is there not already sufficient material in the Report of the Sub-committee of the Profiteering Committee showing that combinations do exist to exploit the consumer? Secondly, has the right hon. Gentleman now changed the view he held in March, 1921, and gave expression to on the Vote for the Board of Trade?

Sir P. LLOYD-GREAME

The answer to the first question is in the negative. I have read all these Reports as carefully as the hon. Gentleman, and the remarkable thing is how little they disclose. Quite possibly, I have changed my view on this matter. I think it would be unwise, in the present critical state of trade, to introduce general legislation of this kind.

Mr. GRAHAM WHITE

May I ask whether the fusions which have occurred in this matter have not been the direct consequence of the operation of meat trusts having their headquarters in America; and if these fusions are inevitable, would it not be better to have them under British rather than under foreign control?

Sir P. LLOYD-GREAME

There may be a good deal in that.

Mr. GRAHAM WHITE

But—

Mr. SPEAKER

This is becoming a debate.