§ 19. Mr. John E. Haireasked the President of the Board of Trade what the average increase in the price of imported oak, beech and other hardwoods has been since January last; and what part of this increase has been due to devaluation.
Mr. WilsonThough it is hard to determine an average price movement for such a varied commodity as hardwood, particularly since it is now privately imported, I would estimate that an overall rise of some 10–15 per cent. has taken place since January. The part of this increase which is due to devaluation varies with different supplying countries and different types of wood, and cannot reliably be estimated.
§ Mr. HaireHaving returned the purchase of hardwood to the timber trade, does my right hon. Friend think that there is anything he can do now to curb the increases which are coming into effect?
Mr. WilsonNot that I am aware of. I considered the maintenance of price control after reversion to private trade. I was satisfied that for a commodity so 669 widely varying in type and specification, it would not be possible to operate price control with private trade.
§ Sir Herbert WilliamsWill the right hon. Gentleman say whether devaluation took place in January last or in October, within the terms of the Question?
Mr. WilsonI thought the hon. Gentleman would know that it took place in neither of those months, but on 18th September last. I am sure that he is equally well aware that there have been some considerable price increases in soft currency markets, some of which did not make themselves apparent in either September or January.
§ Mr. HaireIs my right hon. Friend aware that the timber trade claim that the increases are solely due to devaluation.
Mr. WilsonMembers of the timber trade, like members of any other trade, are glad of any alibi to explain any particular increases in price.