HC Deb 08 July 1941 vol 373 c20
34. Mr. Higgs

asked the President of the Board of Trade whether he is aware that a large proportion of diamonds cut in this country are being sold for hoarding purposes; and can he see his way to divert supplies of rough stone to firms who are prepared to cut for export only?

Sir A. Duncan

My attention has been called to reports to this effect, and I am considering whether any steps can usefully be taken to achieve the object which my hon. Friend has in view.

Mr. Higgs

While thanking my right hon. Friend for his reply, might I ask whether he is aware that the value of these finished diamonds, in this country is about £700,000 per annum, and that three-quarters of them are being sold on the black market?