§ 18. Mr. HARMSWORTHasked the President of the Board of Trade whether the Stevenson rubber restriction scheme has been modified in any way and, if so, for what reason, and whether he will give an estimate of the financial result of any change?
§ The SECRETARY of STATE for the COLONIES (Mr. Amery)The system under which the percentage of rubber exports at the minimum rate of duty was raised or lowered at quarterly intervals according to the average London price of rubber has been modified in respect of the three months beginning 1st February. The decision to increase the percentage by 15 instead of 10 for that 1689 quarter was taken in order to ensure some prospect of relief to manufacturers who found themselves faced with the necessity of buying rubber at the excessively high price temporarily ruling. As regards the last part of the question, if my hon. Friend has in mind the effect on the spot price of rubber, I fear that too many factors enter into the question to enable me to give any estimate of the effect of this particular change.