HC Deb 11 April 1933 vol 276 c2353
16. Mr. HANNON

asked the President of the Board of Trade if he can make a statement on the progress of the negotiations for the renewal of the Continental steel cartel; and if a basic period for the new quotas has yet been determined and any arrangements made relating to a fixation of prices calculated to compete with the steel production in this country?

The PRESIDENT of the BOARD of TRADE (Mr. Runciman)

I understand that an agreement in regard to the setting up of selling syndicates for various steel products has now been reached by the Continental groups concerned, and that the quota percentages have been determined. I have no information as to the basis upon which prices will be fixed.


Will my right hon. Friend watch carefully the development of these cartel arrangements, this new orientation of steel interests in Europe, and the effect from time to time on our own steel industry?


We shall watch very carefully this very important movement.


Can the right hon. Gentleman give us any idea of the amount of English capital that is invested in these Continental cartels?