HC Deb 12 December 1957 vol 579 c1402
3. Mr. Ellis Smith

asked the President of the Board of Trade if he will take steps to prevent the speculative buying of raw materials in order to bring about the lowest possible price for raw materials.

Sir D. Eccles

No, Sir.

Mr. Ellis Smith

Will the President of the Board of Trade give further consideration to this matter? Is he aware that productive industry is in a very difficult position compared with its competitors in other parts of the world? If the hon. Gentleman accepts that line of reasoning as correct, has not the time arrived when we should do something to ensure that productive industry can at least be in the same position as its competitors in other parts of the world?

Sir D. Eccles

I found it difficult to understand the hon. Gentleman's Question, because one would suppose that the buying of raw materials would raise their prices rather than lower them. Certainly I want to do everything I can to ensure that British industry gets a fair deal in world markets.