§ 51. Viscount SANDONasked the Chancellor of the Exchequer whether his attention has been called to the intentions expressed in many cases to raise considerably the prices of goods made of silk and artificial silk as a result of the Finance Act; whether he will publish a White Paper, giving figures as to the effects of the duty on costs, in order to establish the limits of the zones of normal profits and illegitimate profiteering; whether such profiteering exists; whether he intends to take any action; and, if so, by what means?
Mr. GUINNESSIt is probably the case that some traders have attempted to stimulate sales of silk goods by advising their customers to buy at duty-free prices, and foreshadowing excessively increased prices in future, but I have no information that excessive prices are, in fact, at present being demanded. It is not practicable to issue a White Paper giving the effect of the Silk Duties upon the costs of production of the innumerable articles affected by them nor, as the Noble Lord is aware, have the Government power to control prices. But if he will let me have the details of any case in which, in his view, there is evidence that excessive prices are being charged, I shall be glad to have inquiry made.