§ 5. Mr. Patrick Jenkinasked the President of the Board of Trade what investigations his Department has made into allegations that Russian-made watches are being imported into Great Britain at dumped prices; and if he will make a statement.
§ Mr. JayI have received evidence that watches are being imported from the Soviet Union at prices below the cost of production of similar articles in Western Europe. This evidence is being considered with a view to discussions with the Soviet authorities shortly.
§ Mr. Patrick JenkinWill the President of the Board of Trade undertake to press forward his discussions with the greatest urgency? Does he recognise that this flood of imports of cheap Russian-made watches is causing severe damage to the British watch trade? If he wants the British watch industry to survive, does he recognise that he must act pretty quickly?
§ Mr. JayYes, certainly; our watch industry is of great importance. On the other hand, our imports from Russia are a very small proportion of total sales of watches in the British market.