§ 12. Mr. BLACK
asked the Secretary of State for the Colonies how much profit has been made by the Government on the transactions of the British Australian Wool Realisation Association up to date; how much wool remains to be disposed of; and when the operations of the British Australian Wool Realisation Association will cease?
§ The FINANCIAL SECRETARY to the TRFASURY (Mr. W. Graham)
I have been asked to answer this question. The British Australian Wool Realisation Association, Ltd., was formed to realise to the best advantage the wool remaining on the hands of the Government on 31st December, 1920, which belonged partly to the Australian Wool Growers and partly 954 to the British Government. The British Australian Wool Realisation Association, Ltd., was merely a realisation company and was not formed for profit making, but to date it has paid over to the British Government £27,831,144 as the nett proceeds of the wool realised on their account. With regard to the second part of the question, I would refer the hon. Member to the answer given to the hon. Member for Southwark Central on 18th February last.