§ 24. Mr. Parkerasked the Minister of Agriculture whether he is aware that Messrs. Tate and Lyle made a profit of £1,260,000 in 1938 and paid a dividend of 18½ per cent. and a capital bonus of 40 per cent.; that they are likely to make as large profits this year; whether he is willing to revise the refining margin agreed on some years ago; and, if not, in what circumstances would he be willing to ask the refiners to discuss such a revision?
§ Sir R. Dorman-SmithI am aware that the figures for 1938 are approximately as stated in the question. The nature of the assurance given by the refiners to the Chancellor of the Exchequer in 1935 was explained in the reply given on 28th February last to a question asked by the hon. Member for Doncaster (Mr. J. Morgan), of which I am sending the hon. Member a copy, and I understand that 1902 my right hon. Friend does not consider it necessary to ask the refiners for further assurances.
Captain Arthur EvansIs my right hon. and gallant Friend aware that the profit referred to is by no means derived entirely from sugar refining, as a large proportion of this amount is earned by subsidiary undertakings; and is he further aware that, even if the allegation in the question be correct, it only represents a profit of eight one-hundredths of a penny per pound of sugar refined?