§ 37. Mr. Hastingsasked the Minister of Fuel and Power, since the grading of the seven classes of domestic fuel depends on the public demand for each, to what extent increases in demand for a particular variety lead to his approving increases in its cost.
§ The Parliamentary Secretary to the Ministry of Fuel and Power (Mr. David Renton)Price relationships between the various groups are reviewed from time to time in the light of changes in supply and demand. In May, 1954, for example, the relative scarcity of better quality coals was recognised by increasing the price of Groups 1–4 while reducing or leaving unchanged the price of Groups 5–7.
§ Mr. HastingsOught not the price of the product of a nationalised industry to depend on the cost of production and the quality of the goods rather than on the demand of the public for them?
§ Mr. RentonI would say that even a nationalised industry has both a right and a duty to have a commercial regard for these matters and to take due account of demand for one of its products in relation to any other of its products.