§ 24. Mr. Stokes
asked the Chancellor of the Duchy of Lancaster at what price per ton steel ingots made in the British zone of Germany are sold; and how this compares with the corresponding price per ton of steel ingots made in Britain
§ Mr. J. Hynd
The value of ingots steel in the British zone of Germany is about 86 RMs. a ton, and the corresponding value of British ingots is, I understand, in the region of £10 a ton. In the absence of a recognised rate of exchange no effective comparison can be made between these two values.
§ Mr. Stokes
As the Secretary of State for War repeatedly tells the House that the official rate is 15RMs to the pound, why is the steel not sold at 150RMs a ton? Surely firms are making unnecessary losses owing to the bogus rate of exchange?
§ Mr. Nigel Birch
Is it not a fact that the Germans are able to sell steel ingots at this price because they get their coal at 15RMs a ton whereas it cost 30RMs to produce?