§ In the first nine months of this year, the excess of our total imports c.i.f. over our total exports has been no less than £676 million as against only £425 million in the same period last year. And although higher prices account for some part of this increase—the Index of Import Prices during this period has been, on average, some 3 per cent. higher than over the same period last year—it is an expansion in the volume of imports which is mainly responsible. In volume, imports have been no less than 11 per cent. higher in the period from January to September of this year than in the corresponding months of 1954; and the strain which they have imposed on our balance of payments has been aggravated particularly by the need to import substantial tonnages of coal.
§ Mr. Austen Albu (Edmonton)And steel.