§ Mr. Higgsasked the President of the Board of Trade whether he is aware that the British Iron and Steel Federation have announced that the prices ruling on 9th November, 1937, would be maintained until 31st December, 1938, and that the promise has been broken by the rebate agreement, which increases the price by 15s. per ton, only recoverable if certain conditions are complied with; and what action he proposes to take to safeguard the users of iron and steel?
Mr. StanleyI assume that my hon. Friend refers to the recent arrangement under which the National Association for Rolled and Re-Rolled Steel Products extended its rebate scheme covering angles, tees, channels and joists to include all other steel products of qualities coming within the purview of the Association. Schemes of this kind are discussed in paragraphs 95 to 99 of the Report of the Import Duties Advisory Committee on the 1745W iron and steel industry (Cmd. 5507); and the recent arrangement was made with the concurrence of the Committee, who inform me that they regard it as being desirable in the interests of organisation. I understand that the scheme has been readily accepted by the great majority of consumers; and in view of the provision for refund of the increase of 15s. per ton to consumers who participate in the scheme, I do not think that it can be regarded as a net increase in prices.