§ 21. Mr. Jannerasked the President of the Board of Trade whether in view of the recent Anglo-United States talks, he will be in a position to reduce the price of tobacco and cigarettes in the near future.
§ Mr. H. WilsonNo, Sir.
§ Mr. JannerIn view of the saving in dollars that is likely to ensue if these agreements are satisfactorily settled, does not the Minister think that it is time, or that it will be time when they are settled, that a reduction should be made in the cost of tobacco and cigarettes to the smoking public?
§ Mr. WilsonThese talks were not concerned with prices, but with the amount of dollars which in our present position we could afford to spend on American tobacco. This year's crop of American tobacco will be sold as usual by auction in the second half of the year, and obviously no one can know in advance what price it is likely to fetch.
§ Mr. Oliver StanleyIs it not the case that in any event by far the greater proportion of the price of cigarettes is the Government tax?
§ Mr. WilsonYes, Sir.