§ 50. Mr. Nabarroasked the Minister of Fuel and Power how much coal has been imported since 1st April, 1954; what part of it has been brought from the United States of America and paid for in dollars; what are the present arrangements for paying for United States coal; and to what extent payments in sterling for United States coal and freights are retrospective.
§ Mr. Joynson-HicksAbout three million tons, of which 400,000 came from the United States and was paid for in dollars. Such imports are continuing, but a further 250,000 tons have been purchased for sterling under an agreement with the United States Government which is not retrospective.
§ Mr. NabarroIs my hon. Friend aware that I first suggested to him some months ago that it was possible to buy American coal and pay for it in sterling? Why, therefore, have we been obliged to pay in dollars for as much as 400,000 tons of American coal, notwithstanding the fact that there has been a continuing American surplus of bituminous coal throughout the last 18 months?
§ Mr. Joynson-HicksI do not think that my hon. Friend should chide me for doing what he suggested. Arrangements for imports of coal for sterling were made at the earliest possible moment.