§ 13. Mr. PRINGLEasked the President of the Board of Trade whether the increased remuneration granted to the Central Importing Agency, or any part of it, is given on account of bad debts; and, if so, what is the amount of such debts?
§ Sir P. LLOYD-GREAMENo part of the increased remuneration granted to the Central Importing Agency was on account of any bad debts which the agency may have incurred.
§ Mr. PRINGLEIs it not the fact that there were bad debts? Are we to understand that it was merely a coincidence that the remuneration has been increased, and that bad debts have been incurred?
§ Sir P. LLOYD-GREAMEYes, Sir. It is only a coincidence. The original arrangement made by the Treasury and the Board of Trade proved insufficient to provide adequate remuneration for the services performed by the agency. The subsequent raising of the rate of remuneration had no connection with the fact that the agency had incurred bad debts.
§ Mr. PRINGLECould the right hon. Gentleman say what the bad debts were?
§ Sir P. LLOYD-GREAMENot without notice, nor is it relevant to the question, because the Government are not liable.
§ 15. Mr. PRINGLEasked the President of the Board of Trade whether he can state the total value credited to German reparations arising out of the importation of dyes and dyestuffs into the United Kingdom; the amount realised by sales; the value at cost of present stock and 1042 the total amount of profit realised to date on this account?
§ Sir P. LLOYD-GREAMEIt is estimated that the amount to be credited to the German Reparation Account to date in respect of dyes and dyestuffs is approximately £950,000. The amount realised from sales is approximately £1,043,000. The realisable value of stocks on hand is estimated at £110,000. The amount of profit realised to 31st March, 1922, was £137,000. Accounts for the last financial year will not be available for some months.