HC Deb 03 June 1930 vol 239 cc1937-8
10. Mr. HERBERT GIBSON

asked the Lord Privy Seal whether his attention has been called to the delay in proceeding with schemes of amalgamation in the Lancashire cotton trade; whether the causes for this state of affairs are to be found within the industry or in the policy pursued by the banks; and whether he will take steps to stimulate the efforts being made to place the cotton trade upon a sounder economic basis?

9. Mr. DOUGLAS HACKING

asked the Lord Privy Seal whether he is aware that, owing to financial obstacles, the reorganisation of the Lancashire cotton trade on the basis of large scale amalgamations is being retarded; and whether, in view of his promises of financial assistance to such schemes, he is able to announce any measures for overcoming the difficulties at present encountered?

Mr. THOMAS

I have no reason to think that any sound scheme for the reorganisation of the Lancashire cotton industry is being retarded by lack of finance. The question of the provision of finance for schemes of rationalisation is dealt with in the statement which I made on the 15th April, in reply to the hon. and gallant Member for Central Hull (Lieut.-Commander Kenworthy), regarding the Bankers' Industrial Development Company, Limited. I am sending the hon. Member a copy of that statement. As the House will be aware, the Government appointed last summer a Committee to investigate the cotton industry, and their report is expected very shortly. I hope before the end of this week.

Mr. GIBSON

When the report on the cotton trade is presented, will the Lord Privy Seal go to Lancashire with a view to calling together the employers and the employés to see what steps can be taken to implement the report and bring about a better state of things?

Mr. ARTHUR MICHAEL SAMUEL

And when he goes down, as I hope he will, will he interview the leaders of the Manchester Chamber of Commerce and take into account the vote they declared yesterday?

Mr. THOMAS

The last time I was in Manchester I thought it wise to interview those engaged in the industry. That I shall continue to do. With regard to the first supplementary question, I think the right way would be to take into conference freely and frankly both sides engaged in the cotton industry. Whether that will be my task time alone will determine.