§ 3.0 p.m.
§ LORD POLWARTHMy Lords, I beg to ask the Question which stands in my name on the Order Paper.
§ [The Question was as follows:
§ To ask His Majesty's Government, what profit, actual or estimated, has been made by them on the disposal of the home-wool clip of the years 1948 and 1949 respectively.]
§ THE JOINT PARLIAMENTARY SECRETARY, MINISTRY OF AGRICULTURE AND FISHERIES (THE EARL OF HUNTINGDON)My Lords, on the sale of the 1948 wool clip the Exchequer lost about £53,000. The 1949 clip will not be completely sold until the end of July next, but there will probably be a surplus on it of over £2,000,000.
§ LORD POLWARTHMy Lords. I thank the noble Earl for his reply. Will he undertake that when the results are known they will be made public, so that it may be realised that sums taken from farmers offset the amounts which are paid to them for certain other purposes?
§ THE EARL OF HUNTINGDONI will certainly undertake that the results will not be secret.
§ THE EARL OF SELKIRKMy Lords, is it not true that the profit on wool to-day is about 1s. on the pound—purchases in the area of 2s. 2d. and sales at 3s.?
§ THE EARL OF HUNTINGDONI would remind the noble Earl that we do not yet know what the clip will give.
§ VISCOUNT SWINTONOr whether it will be merely a loss on Government trading to be written off.