§ 83. Sir G. Mitchesonasked the President of the Board of Trade whether his attention has been drawn to the uncertainty felt by many businesses owing to their inability to forecast in advance even for relatively short periods the amount of the premiums they are called upon to pay in respect of the insurance of commodities against war risks; and whether he has any statement to make on the matter?
The Parliamentary Secretary to the Board of Trade (Major Lloyd George)My right hon. Friend has received no general complaints to the effect suggested by the hon. Member. The rate of premium for the commodity insurance scheme is prescribed for successive periods of three months at a time, and was last announced on 12th February for the period of three months to 2nd June at the same rate as had been in force for the previous period. 571 In the uncertainties of war conditions, any proposal to fix the rate for a longer period would involve an undue financial risk, but as long a notice as is reasonably possible will be given in regard to the premium for any period subsequent to 2nd June.