Cotton Cover Scheme

HC Deb 07 July 1949 vol 466 c2317

12. Mr. Erroll

asked the President of the Board of Trade when the new cotton cover scheme, drafted by the Raw Cotton Commission, can be expected to come into operation.

Mr. H. Wilson

I understand that the Raw Cotton Commission is considering the question in the light of the circumstances to which my right hon. and learned Friend the Chancellor of the Exchequer referred in his statement yesterday.

Mr. Erroll

Could the right hon. Gentleman ask the Raw Cotton Commission to hurry up and provide an adequate cotton cover scheme, at the same time bearing in mind that the Liverpool Cotton Exchange provided very adequate facilities before the war?

Mr. Wilson

I am well aware of the facts to which the hon. Member refers, but of course, whether this commodity was under private or public purchase, consideration would have to be given to the shortage of dollars for the purchase of cotton.