Captain COOTEasked the President of the Board of Trade whether he is aware of the enormous fall in the price of raw cotton and also the wholesale price of tea, and that no corresponding reduction has taken place in retail prices; and whether he can hold out a hope of an immediate prospective reduction in these prices?
§ Sir R. HORNEThe reduction in the price of raw cotton has already been reflected in a considerable fall in the wholesale price of cotton cloth. In some instances there have been reductions in the retail price of cotton goods. These reductions are not yet general, nor are they proportionate to the fall in wholesale prices. I certainly hope that retail prices will be further reduced. As regards tea, I would refer to the answer given by the Secretary to the Ministry of Food on 1st November to the hon. Member for Keighley (Mr. Clough), a copy of which I am sending to my hon. and gallant Friend.