§ 42. Mr. Keelingasked the Minister of Food, how soon it is expected that the devaluation of the franc which took place some months ago will enable the price of French wines and brandy to be reduced in this country.
§ Dr. SummerskillThe effect of devaluation of the franc on the price of French table wines and brandy is likely to be largely offset by the recent increases in duty. Any reductions that may be possible will not operate until the wines and spirits purchased under this year's programme are shipped and distributed.
§ Mr. KeelingHow does the Minister arrive at that calculation when the duty has only been increased by a small percentage, whereas the franc has been devalued to almost half its value?
§ Dr. SummerskillI think the hon. Gentleman is wrong. The franc has only been devalued by about 10 per cent.
§ Mr. DribergAre not the benefits of devaluation likely also to be offset by the fact that the Ministry of Food has decontrolled the prices of most French wines?
§ Dr. SummerskillOnly the prices of still wines have been decontrolled. The prices of sparkling wines are still controlled so that the producer will not charge high prices for champagne.
§ Mr. KeelingIs not the Minister aware that whereas the franc was 480 to the £, it is now 855?
§ Mr. DribergIs not still most?