§ 40. Mr. A. Royle
asked the President of the Board of Trade if he will make a statement on the Hong Kong textile quota, in order to relieve the uncertainty which is damaging the Colony's trade.
§ Mr. A. Royle
Why is the President of the Board of Trade taking so long to come to a conclusion in this matter? The delay is causing great damage to the Colony of Hong Kong's trade at present. Secondly, will he give an assurance that, in any action he proposes, he will maintain the individual quota for each territory and not institute a global quota?
§ Mr. Sydney Silverman
While fully realising the importance of this aspect of our import problem for Lancashire, will my right hon. Friend consider, since a large part of our present serious international economic situation is due to the excess of imports generally, not only textiles, whether it is time that the Government devised a planned economic import policy as a whole?
§ Mr. Jay
No, Sir. I would not say that they had the full backing of the Cotton Board. This is a controversy in which any solution is bound to displease most of the parties concerned. [HON. MEMBERS: "Oh."] It is bound to. We had 677 all better recognise that frankly. I am trying to achieve the most equitable possible compromise.
§ Mr. Chichester-Clark
What other authorities and expert bodies besides the Cotton. Board is the right hon. Gentleman consulting?