§ 57. Mr. Alportasked the Chancellor of the Exchequer if he can give an estimate of the net profit in hard currency derived from the sale of coal to the United States of America since 31st December, 1950, after taking into consideration the dollars expended on the import of coal from the United States of America during that period.
§ Mr. GaitskellThere have been no sales of coal to the U.S.A. since 31st December, 1950.
§ 58. Colonel Crosthwaite-Eyreasked the Chancellor of the Exchequer to state the additional sum of foreign exchange expended through the transhipment at Rotterdam of coal bought by the National Coal Board for importation into this country.
§ Mr. GaitskellNone, Sir.
§ Colonel Crosthwaite-EyreIf no foreign exchange has been expended, how is it that 30s. a ton is being charged for the trans-shipment, which is now somewhere in the order of £40,000, and from what source is the foreign exchange being provided?
§ Mr. GaitskellAccording to my information, the present dollar freight rates from the United States to Rotterdam are less than those from the United States to the United Kingdom, and the difference exceeds the guilder expenditure on transshipment.
§ Mr. Geoffrey LloydHas the right hon. Gentleman taken into account the freight rates of Norwegian vessels, because the B.E.A. colliers are not. I understand, sufficient for this traffic?
§ Mr. GaitskellThat does not make the slightest difference to the answer which I have just given. The amount of foreign exchange involved was less.
§ Colonel Crosthwaite-EyreIs it the right hon. Gentleman's statement that it has been found easier to trans-ship coal to Rotterdam on foreign exchange grounds rather than from America to this country, and, therefore, the extra burden of shipment from Holland to this country has to be borne by the consumer?
§ Mr. GaitskellI explained that the foreign exchange was less.
§ Mr. Geoffrey LloydHas not the right hon. Gentleman been inflating the dollar cost to this country by including in it demurrage which has been incurred by the dollar vessels waiting here because the ports are not capable of discharging them?
§ Mr. GaitskellNo, Sir.
§ Colonel Crosthwaite-EyreI am sorry to press this, but would the right hon. Gentleman say if it is now his contention that shipping coal via Rotterdam to this country is cheaper than shipping it direct?
§ Mr. GaitskellNo, Sir, because we have to take into account the sterling expenditure on the shipment from Rotterdam itself.