HC Deb 27 July 1925 vol 187 cc7-8
12. Mr. PENNY

asked the Secretary of State for the Colonies whether he is aware that the Federated Malay States Government have permitted the release of 5,000 tons of non-coupon rubber, held by Chinese dealers, upon the payment of an export duty of 42 cents per lb.; if the whole of the amount must be exported or any part thereof; and, seeing that it would be in the interests of rubber producers and actual consumers that when any action such as this is contemplated a declaration should be made by His Majesty's Government beforehand, so as to check as far as possible speculation in the commodity, will he consider taking some such steps in the future?

Mr. ORMSBY-GORE

I have been informed by the High Commissioner that, acting under legal advice, he has released some 6,000 tons of non-couponed rubber consisting of stocks held by dealers prior to the imposition of restriction. I understand that the owners of this rubber will under this decision be at liberty to export all or any part of it at the rate of duty mentioned by my hon. Friend. As regards the last part of the question, I will bring his suggestion to the notice of the High Commissioner.

Mr. PENNY

Will the hon. Gentleman endeavour, if at all possible, in effecting what he considers to be best in the interests of the industry and of the country, to leave no uncertainty in the minds of the public as to the intentions of the Government?

Mr. ORMSBY-GORE

My right hon. Friend, I understand, is making some reference to this matter in his speech this afternoon.

Captain SHAW

Is the hon. Gentleman aware that there is complaint made in many of the industries throughout the country that they are already suffering for lack of the raw material?

Mr. ORMSBY-GORE

Yes, we have had representations. This sudden and unexpected and partly artificial rise in the price of rubber has, of course, been taken very seriously into consideration.

Mr. HARRIS

Is it not inevitable that if you have artificial production and distribution of rubber there will be artificial rises in the prices?