§ 3.7 p.m.
§ Mr. ELLIOTI beg to move, in page 58, line 35, to leave out from "if," to the end of the paragraph, and to insert:
that value had been based on the average price, as determined by the Minister, for the twenty-five years immediately before the date of the application for redemption, of the commodity or commodities by reference to the price of which the award value was subject to variation.
Brigadier-General BROWNThe period of 25 years will include the four War years. The Commission themselves left out the War years in fixing their price, and I think my right hon. friend ought to take that into account as the Commission did.
§ Mr. ELLIOTThese matters were carefully considered and were discussed in Committee, and the Parliamentary Secretary replied at some length. I think that the arguments that he used hold good on further consideration. The Com- 2194 mission did not include the War years, because they included a century during which fairly high prices had run. It seemed to us that 25 years was a fair period. If the War years were left out the years immediately following the War were also years of high prices. If one carefully hand-picked a period beginning with a low price year it might look a little invidious. I think the House should adhere to the period of 25 years.
§ Amendment agreed to.
§ Bill to be read the Third time upon Monday next, and to be printed. [Bill 142.]
§ The remaining Orders were read, and postponed.