HC Deb 28 October 1937 vol 328 cc251-2
62. Mr. Craven-Ellis

asked the Chancellor of the Exchequer whether, in view of the recent fall in the price level of primary commodities, His Majesty's Government still adheres to the policy laid down at Ottawa and reaffirmed by delegations of the British Commonwealth on 27th July, 1933?

Sir J. Simon

The answer is in the affirmative.

Mr. Craven-Ellis

Is my right hon. Friend satisfied that the continuance of that policy will bring about the desired rise in the price level of commodities?

Sir J. Simon

I am not going to be so rash as to prophesy, but my hon. Friend I know appreciates that, whatever recent changes may show, as things stand the index figure is well above the figure of 1936 and, of course, it is tremendously above the Ottawa level.

Mr. Craven-Ellis

Has the index figure reached the figure contemplated when this declaration was made by the representatives of the Dominions?

Sir J. Simon

I could not go into that matter without notice?