§ 30. Mr. Walter Fletcherasked the Secretary of State for the Colonies what is the total, to the nearest £1 millon of money accumulated by the West African Cocoa Board as a result of the difference between the price paid to the producer and the sales price on 1st June, 1948.
Mr. Creech JonesThe West African Cocoa Boards were established on the 1st October, 1947. The sums due to them from the trading surplus of the West African Produce Control Board up to that date were (to the nearest £1 million) for the Gold Coast Board £15 million, and for the Nigerian Board £9 million. The accounts of the Cocoa Boards for the 1947–48 season have not yet been closed and trading figures to 1st June, 1948, are therefore not available.
§ Mr. FletcherIn view of the fact that there must now be much greater sums available, will the right hon. Gentleman tell us what is to be done with these sums at a very early date?
§ Dr. SegalCould my right hon. Friend tell the House what part of these amounts is intended to be placed in reserve, and what part is to be allocated for the benefit of the Colonies in the near future?
Mr. Creech JonesI have no control over these monies. These are matters which have to be decided in the Gold Coast and in Nigeria.
Mr. Ivor ThomasCan my right hon. Friend assure me that His Majesty's Government are not consenting to anything in the Trade Charter of the Havana Conference which would interfere with the intention of His Majesty's Government to 1188 use these funds mainly for the purpose of smoothing out trade fluctuations?