§ 93. Mr. CAIRNSasked the Secretary for Mines if he is aware that for the last nine years the coal mines of this country have made a total profit of £207,400,000 after paying all expenses, and also that the selling price of coal for the past three months has been high; if so, how is it that the workmen's wages are only 40 to 45 per cent. above 1914 wages, and the cost of living is 79 per cent. above 1914 cost; will he say where the increased profits have gone: has the cost of a ton of coal raised increased; and what percentage on capital invested has been paid each year from. 1913 up to the present time?
§ Lieut.-Colonel LANE-FOXAs regards the amount of colliery profits in recent years, I would refer the hon. Member to the answer that I gave to the hon. Member for the Don Valley on the 12th 1787 March. As regards the relation between prices and wages to my answers to the hon. Member for Rotherham on the 7th March, and as regards costs of production to the summaries issued quarterly by my Department. As regards his final question. I have no later information than that given by my predecessor on the 19th April, 1921, in reply to the hon. Member for Frame, from which it will be seen that the profits available for distribution (before deduction of Income Tax) during the seven years ended 31st March, 1921, might be estimated to represent 11¾ per cent. on capital. I am sending the hon. Member copies of these answers.
§ Mr. CAIRNSis the figure of £207,400,000 correct?
§ Lieut.-Colonel LANE-FOXIf the hon. Member will wait he will find the whole of the information given in the answer.
§ Mr. CAIRNSIs the hon. and gallant Gentleman aware that thousands of miners are getting £1 a week? Cannot they have some of this?
§ Mr. HANNONIs not this alleged £207,000,000 entirely exaggerated?
§ Lieut.-Colonel LANE-FOXI do not think it is correct.