§ 37. Mr. Willeyasked the Minister of Food why he has increased the price of margarine and cooking fats to bakers and confectioners.
§ Major Lloyd GeorgePrices are based upon the market prices of raw materials in the preceding eight weeks.
§ Mr. WilleyDoes the Minister realise that this is very unfortunate, because just when the reduced price of flour might have led to a decrease in the price of confectionery, these increased prices are going to offset that possibility and the housewife will get no benefit at all?
§ Major Lloyd GeorgeThis increase in the price of cooking fat will have practically no effect at all on the price of bread. [Laughter.] I have made a statement of fact. The present increase in prices of these commodities will have a negligible effect on the price of the loaf. The fact is that prices are now coming down in this eight-week period, and that will be reflected in the next eight weeks.
§ Mr. WilleyIs the right hon. and gallant Gentleman acquainted with what has been said in the trade Press about this matter, and that because of the indication that the price might go down we are anxious that it should not be offset by other price increases?
§ Major Lloyd GeorgeThe hon. Gentleman must take things as they are. I gathered from his Question that we are dealing with cooking fat. The fact is that as the price goes up in one eight-week period, it is reflected in the Ministry selling price of the cooking fat in the next period. If it goes down, as it is going down, it will be reflected favourably next time.
§ Captain WaterhouseIs it not a fact that the supplies of tea, margarine and cooking fats are infinitely better than they were when the hon. Member for Sunder-land, North (Mr. F. Willey) was in office, and is not the country very well content?