HC Deb 16 February 1953 vol 511 cc865-6
22. Sir W. Smithers

asked the Minister of Materials how much of the £47 million loss on trading services and assistance to industry was incurred under contracts made before 1st November, 1951.

Sir A. Salter

The figure quoted by my hon. Friend is that of the estimated excess of cash payments over cash receipts, not the trading loss. Some proportion of the latter may be attributed to the contracts made before the date mentioned when world prices were generally higher than they have since been, but it would not be feasible to attempt an analysis of the figure related to this factor in isolation.

Sir W. Smithers

In view of the proved disastrous effect of State trading, would my right hon. Friend give an undertaking that in future all commercial trading shall be left to experienced traders and merchants and not undertaken by Government Departments?

Sir A. Salter

I made a statement on 26th January—

Sir W. Smithers

I know, a rotten one.

Sir A. Salter

I repeat that I made a statement, which I should have thought my hon. Friend would have welcomed, on the fact that it is the policy of Her Majesty's Government to revert to private trading, except where and when there are special reasons for its remaining in public hands.

Sir W. Smithers

May I apologise for my remark? It slipped out inadvertently.

23. Sir W. Smithers

asked the Minister of Materials to give an undertaking that public trading by his Department will cease directly contracts at present in existence have been concluded.

Sir A. Salter

No, Sir. Every case must be considered on its merits, and the existence of contracts is only one of the factors which have to be taken into account.

Sir W. Smithers

May I ask the Minister when the Conservative Government are going to stop trying to achieve the impossible by making Socialism work?

Sir A. Salter

That is a somewhat general question to attempt to answer by way of reply to a supplementary question, but I would remind my hon. Friend of the very considerable number of cases in which, quite recently, we have reverted from public to private trading.