§ 25. Mr. Thorpeasked the President of the Board of Trade what representations have been made by Her Majesty's Government, either to the Hong Kong Government or the Hong Kong cotton trade associations, to renew their voluntary agreement limiting the supply of cotton goods to the United Kingdom when that agreement expires.
§ Mr. MaudlingThe Hong Kong Government are aware that Her Majesty's Government believe that a further inter-industry agreement would
§ Mr. MaudlingAs the Answer contains a table of figures, I will, with permission, circulate it in the OFFICIAL REPORT.
§ Mr. Langford-HoltDoes my right hon. Friend intend to put it under the heading "oil" or will he break it down into subheads for the various types of oil?
§ Mr. MaudlingThe information will be on oil generally but detailed figures are available in the Trade and Navigation Accounts.
§ Following is the table:
§ be in the interest of Hong Kong and Lancashire alike.
§ Mr. ThorpeDoes not the right hon. Gentleman agree that this was a once-and-for-all agreement intended to help Lancashire to reorganise? Does he further agree that it would be wrong for a purely temporary measure to be turned into a permanent restriction on Commonwealth trade? Is he not at least an Empire free trader?
§ Mr. MaudlingThis is a very complicated matter which is not easy to deal with in Question and Answer. I 1377 repeat that we believe that in the long term it is in the interests of both Hong Kong and Lancashire if this inter-industry agreement can be renewed.
§ Mr. S. SilvermanHas the right hon. Gentleman considered what the position in Lancashire might be if the advice which he is rendering to Hong Kong that she should renew this agreement in her own interest, as well as in the interests of Lancashire, should not be heeded? Would not this create a new emergency in Lancashire? Are any preparatory investigations being made so that we shall not be left, as we were in past years, with an emergency without any plans for dealing with it?
§ Mr. MaudlingThere has been a very close study of this problem, which I agree is a serious one for Lancashire and, indeed, for Hong Kong. I do not think that it would be wise for me to go beyond what I have already said, namely, that we believe that a renewal or a further inter-industry agreement will be in the interests of everyone concerned.
Mr. J. T. PriceWhen the right hon. Gentleman discusses this matter further with the Liberal Party will he inform them that Adam Smith has been dead for over 200 years and that the principles he adumbrated in his age and generation do not apply to the modern world? Although many of us are greatly in favour of liberalisation of trade wherever possible, we are not in favour of sacrificing the interests of our own people to the sort of propaganda which the Liberal Party is putting out.