§ 24. Mr. T. Williamsasked the President of the Board of Trade the reasons for the recent heavy increase in the price of pure glycerine; whether there is any connection between this increase in price and rearmament; and what action is being taken to prevent profiteering in this commodity?
§ The President of the Board of Trade (Mr. Runciman)I understand that the rise in the price of glycerine in recent months is due to an expansion of normal industrial demand, and that the effect of the Government's rearmament programme on the position can be regarded as negligible.
§ Mr. WilliamsDoes the answer imply that the Government are taking no steps whatever to prevent this gross profiteering in what is not only a necessity for rearmament, but also in medicine?
§ Mr. RuncimanI have pointed out that 'the rise in the price is a natural movement of the market.
§ Mr. WilliamsIn view of the statements made by the Chancellor of the Exchequer and the Minister for the Co-ordination of Defence, that the public would be safeguarded against excessive profiteering in connection with the rearmament policy, do the Government intend to take any steps to prevent this profiteering in medicine?
§ Mr. RuncimanWe cannot control world prices in London, but every effort will be made to prevent undue profiteering in connection with the rearmament programme.
§ Mr. WilliamsIs it not the case that only one firm in this country produces pure glycerine and, therefore, that it would be an easy thing to find out the source of this profiteering?
§ Mr. RuncimanI am afraid that I cannot accept that statement.