§ 33. Mr. R. Aclandasked the President of the Board of Trade whether he can state, in relation to the dealings of the British Iron and Steel Federation in imported iron and steel (other than steel imported under the cartel arrangements), what are the total profits on those transactions which have shown a profit and what are the total losses on those transactions which have shown a loss?
§ Dr. BurginI am informed that, for the first 240,000 tons that were delivered, the losses amounted to about £2,250 and the profits to about £32,000.
§ Mr. AclandIs the Minister right in suggesting that there is any serious risk of the Federation making a loss on these dealings as a whole; and ought not the House to have some knowledge of what is going to happen to the profits?
§ Dr. BurginI think that the latter part of the hon. Gentleman's supplementary question might, perhaps, be put on the Paper; I am not sure that the destination of these profits is yet known to us. With regard to the first part, I have never, of course, known a Minister to be wrong.
§ Mr. A. V. AlexanderWill the hon. Gentleman arrange that the Import Duties Advisory Committee, when they are making this inquiry, should take cognisance of these profits?