§ LORD DENHAMMy Lords, I beg to ask the question standing in the name of my noble friend Lord Barnby.
§ [The question was as follows:
§ To ask His Majesty's Government, the total weight and value of wool 898 owned outright or in conjunction with the Dominions in all theatres. Also the assumed value of future commitments to purchase.]
LORD PAKENHAMMy Lords, the total weight of stocks on July 1, 1945, was about 3,250,000,000 pounds, the cost of which, where lying, was about £170,000,000. Under the recent Agreement, this is owned jointly by the United Kingdom Government and the Dominion Governments. The 1945–46 Dominion clips are being taken up by the United Kingdom Government by the previous methods of appraisement and bulk purchase, at an estimated cost of about £75,000,000, on account of the joint Organization which is being set up by the United Kingdom and Dominion Governments. Thereafter, it is proposed that new clips shall be offered for sale through normal channels, the Joint Organization taking over any such wool not purchased at the auction reserve price.