§ 24. Mr. Piratinasked the President of the Board of Trade whether he is aware that the United States of America is subsidising Japanese wool production to the extent of 20 per cent. on yarn and 40 per cent. on cloth; and, in view of the effect of this, in addition to the low wages paid to the workers, on the competitive price on the world market, whether he will immediately take up this matter with the United States Government.
§ Mr. BottomleyI understand that new yen exchange rates recently announced have brought an end to the concealed exchange subsidies to which the hon. Member refers. The new rates will, I 3017 understand, give a small subsidy to Japanese exports of woollen cloth but it is too early to say what the effect of this subsidy will be.
§ Mr. PiratinWhy cannot the hon. Gentleman give a straight answer to a very straight question: Are the Americans
subsidising Japanese wool production to the extent of 20 per cent. on yarn and 40 per cent. on cloth,as the Question asks? Is that the case, for a well known authority on the matter in this country stated it only last week? If that is the case, what steps does the Minister propose to take in the matter of this unfair competition?
§ Mr. BottomleyI thought I had already indicated that in my answer. With regard to any further consideration, that will have our attention and we shall make representations, if necessary.