§ 24. Mr. Oramasked the President of the Board of Trade whether, in the light of the profits made last year by the British Oxygen Company, he will reconsider the 1439 decision not to implement the majority recommendation of the Monopolies Commission that the prices and profits on oxygen and dissolved acetylene should be regulated.
§ Sir D. EcclesI have no evidence that the company's profit on sales of oxygen and dissolved acetylene has increased materially.
§ Mr. OramWhen investigating this industry, did not the Monopolies Commission find that the prices were unreasonable and the profits excessive? As last year the profits of the British Oxygen Company were 23 per cent. up on the previous year, is not it pretty certain that the weakness of the Minister in this matter is allowing the profits of the company to swell at the expense of the country?
§ Sir D. EcclesI do not think we can draw that conclusion without looking at the turnover of the company and at the whole range of products which it makes.
§ Mr. WebsterIs not it a fact that the company concerned is implementing, or has implemented, the recommendations of the Commission and therefore that the regulation of the tonnage of oxygen sold to the steel works may in fact increase the prices of that commodity?
§ Sir D. EcclesYes, Sir. The company gave us certain undertakings and I have every reason to think that it is carrying them out.