HC Deb 09 March 1937 vol 321 cc960-1
60. Mr. T. Williams

asked the President of the Board of Trade what steps he is prepared to take by intervening on behalf of consumers to prevent profiteering in any case where the price of any commodity has increased by 100 per cent. within a few months, due to demand exceeding supply, or any other cause?

Mr. Runciman

I presume the hon. Member has in mind certain raw materials, the world prices for which have recently risen considerably. I fear that any attempt to fix prices here below world levels would tend to divert supplies from this country.

Mr. Williams

Can the right hon. Gentleman say whether, where the price does increase very rapidly, and the article is one consumed in all parts of the country, the Board of Trade have any power to intervene on behalf of the consumers when it is known that profiteering is taking place?

Mr. Runciman

First of all, we have to ascertain the facts. I shall be very glad to have the assistance of the hon. Member in bringing to our notice any particular commodities to which he refers.

Mr. Williams

Now that the matter has been brought to the notice of the Board of Trade, are any steps being taken, and, if not, will steps be taken to restrict profiteering?

Mr. Runciman

If the hon. Gentleman is referring to a particular commodity, that matter does not appear in this question, which covers the whole range.

Mr. Williams

Is not the right hon. Gentleman aware that I brought to his notice a week ago the fact that in five months the price of pure glycerine increased by 100 per cent., and since the Board of Trade are now aware of the fact, are they taking steps to deal with the matter?

Mr. Runciman

We are looking into that specific case.