Wheat.

HC Deb 02 August 1939 vol 350 cc2372-4

54. Mr. De la Bère

asked the Chancellor of the Duchy of Lancaster whether he will replace those representatives of the milling combines who are at present serving on the advisory committees on the Government emergency wheat storage plan and appoint representatives who are entirely unconnected with operating the Government scheme for wheat storage, as the present arrangement places these representatives in an invidious position in discharging their duties?

The Chancellor of the Duchy of Lancaster (Mr. W. S. Morrison)

No, Sir. In view of the part which the three milling concerns are taking in the wheat storage scheme, I consider that it is essential that they should be represented on the advisory committee.

Mr. De la Bère

Is the right hon. Gentleman aware that he is making history and that the Government have sold the grain trade for a mess of pottage to the milling combines; is he further aware that it will be said that in the year 1939 there was no one in the Government who had the courage to stand up against the scandal of the milling combines?

55. Mr. Graham White

asked the Chancellor of the Duchy of Lancaster whether he can make any statement with regard to the purchase of 50,000,000 bushels of Canadian wheat?

Mr. Morrison

I assume that the hon. Member is referring to a recent Press report to the effect that His Majesty's Government have decided to purchase up to 50,000,000 bushels of wheat for storage in Canada as a reserve. If so, I can say that it has no foundation.

59. Mr. White

asked the Chancellor of the Duchy of Lancaster whether the transaction arising from the turnover of Government reserve wheat stocks have to date resulted in a profit or loss?

Mr. Morrison

Owing to the fall in the price of wheat which has occurred since the original purchase was made, the capital value of the Government wheat reserve has depreciated in the same way as all other stocks of wheat. The reserve was, however, purchased and is being held as a defence measure. Whether a profit or loss will be made on the transaction will depend on the price realised when the reserve is finally liquidated.

Mr. White

Can the right hon. Gentleman say how the original loss has already been met?

Mr. Morrison

It is very difficult to say what the loss is, because although we had to buy wheat in the early days at a higher price than it fetches now, the total result of the transaction cannot be accurately assessed until the transaction is finished.

Mr. De la Bère

Why is it that the milling combine has virtually a free call on this wheat reserve?

Mr. Morrison

They have not a free call.

Mr. De la Bère

Has my right hon. Friend never heard of the scandal?