HC Deb 22 October 1940 vol 365 cc926-7
24. Mr. Price

asked the Minister of Economic Warfare whether he will consider approaching the Governments of the Dominions, the United States of America, and the South American Republics, with a view to the forming of a price equalisation corporation to buy up surplus raw materials on the world markets and unload them gradually after the war in order to prevent violent post-war slumps?

The Minister of Economic Warfare (Mr. Dalton)

His Majesty's Government in the United Kingdom is already in touch with the Governments of the Dominions and of the United States of America regarding the problem of surpluses, both of raw materials and foodstuffs. Further, as my hon. Friend will be aware, an important mission, headed by Lord Willingdon, is shortly proceeding to South America to discuss with the Governments of the South American Republics various commercial questions of common concern. The House will also recall that on 20th August the Prime Minister stated that His Majesty's Government will do their best to encourage the building-up of reserves of food all over the world for the relief of the countries of Europe once these have been wholly cleared of German forces and have genuinely regained their freedom.

Mr. Price

Will my right hon. Friend say whether the Belgian and Dutch Colonial Empires were also consulted about this scheme?

Mr. Dalton

We are anxious to make the scheme as comprehensive as possible within the Empire and Allied zone. There have been certain contacts with the Dutch and Belgian representatives, although at this stage it is not possible to make a full statement on that matter.

Mr. Thurtle

Is it the view of His Majesty's Government that Lord Willing-don is a great commercial and industrial expert?

Mr. Dalton

It is our view that we are sending a well balanced mission, on which various forms of human expertness and aptitude figure.

Sir Joseph Lamb

Do the discussions with America include the question of the supply of raw oil to Japan?

Mr. Dalton

That is a rather different Question from the one on the Paper. If my hon. Friend likes to put down something specifically on the matter, I will try to give him an answer.