21. Mr. Philips Priceasked the Minister of Materials what steps it is proposed to take to increase our purchases of Egyptian cotton in the near future.
§ Sir A. SalterRaw cotton is not purchased by Her Majesty's Government but by the Raw Cotton Commission and by spinners who have chosen to buy their cotton themselves, either directly or through merchants. Purchases are, I understand, governed by normal commercial considerations, and in fact considerable stocks of this type of cotton are already available in the country.
Mr. Philips PriceIn view of what we hope is an improvement in our relations with Egypt, is it not desirable to do all we can to try to assist the Egyptian economy as far as is consistent with our interests?
§ Sir A. SalterI fully realise the consideration which the hon. Member has in mind, but I cannot add to my statement about the way in which the cotton is purchased now and on what considerations.
Mr. J. T. PriceIs it not also true that Egyptian producers of raw cotton have been exploiting the British market and charging exhorbitant prices for their cotton to the British industry?
§ Sir A. SalterI would not make any general statement about the course of prices in Egypt which has, of course, changed very considerably.