§ 39. Mr. ROBINSONasked the Prime Minister the nature of the body which will conduct the inquiry into the balance of trade; what will be its terms of reference; and when the names of the appointed Members will be announced?
§ The PRIME MINISTER (Mr. Ramsay MacDonald)Some preliminary consideration has already been given to the question by the Cabinet, who must themselves be responsible in this matter. They will adopt such procedure as is thought most suitable, and in particular will use the services of those who are specialists in their own sphere in order to secure the most accurate information and estimates possible.
§ Mr. ROBINSONWill the right hon. Member say whether the usual rule of Cabinet secrecy will apply, and whether the House will be deprived of complete knowledge of the facts and discussions on that subject?
§ The PRIME MINISTERIn so far as it is a Cabinet secret, it will be treated as a Cabinet secret; in so far as it is matter for public knowledge, it will be disclosed.
§ Major NATHANIn the course of any inquiries that are made will a separate statement be given as to the balance of trade as at the 21st September, when this country left the Gold Standard, and as at any subsequent date that may be convenient, so that the two may be compared?
§ The PRIME MINISTERI will bear in mind the suggestion of my hon. and gallant Friend.
§ 43. Miss RATHBONEasked the Prime Minister whether the Economic Council has been asked to report on the measures necessary to ensure a favourable balance of trade; if so, whether and when their report will be laid before the House; and whether expressions of opinion on the same subject are being invited from any of the economic experts connected with the several universities?
§ The PRIME MINISTERAs regards the first two parts of the question, it would be contrary to established practice to make public the subjects referred to the Economic Advisory Council, the reports of which are prepared for the confidential information of His Majesty's Government. As regards the remainder of the question, the hon. Lady may rest assured that all possible steps are being taken to secure the best available advice on this important question.
§ Miss RATHBONECan the right hon. Gentleman say, if that is so, whether they do include any economic experts, or whether the Government have found it impossible to find an economic expert who is in favour of tariffs?
§ The PRIME MINISTERWe do our best. What we discover is, I think, what everybody else discovers, namely, that economic experts are very much divided in opinion.