§ Sir E. NICHOLLasked the Minister of Food what is the guaranteed price of British wheat from this year's harvest; and to what price must imported wheat fall if the bread subsidy is to vanish automatically?
§ Mr. McCURDYThe guaranteed price of British wheat as laid down in the Corn Production Act, 1917, is 45s. per quarter of 480 lbs. The Government has, however, decided, as already stated by the Prime Minister, that so long as wheat is still controlled, and thereby deprived of a free market, the controlled price of home-grown wheat of sound milling quality harvested in 1920 shall be the monthly average (c.i.f.) price of imported wheat of similar or comparable quality, provided that the price so paid to the home-grower shall not exceed 95s. per quarter of 504 lbs. As regards the second part of the question, on the assumption that the selling price of flour remained as at present, it would be necessary for the average c.i.f. cost of all imported wheat to fall to approximately 85s. per quarter of 480 lbs., which is equivalent to 89s. 3d. per quarter of 504 lbs. before the bread subsidy could vanish automatically.