§ Mr. W. J. Brownasked the Minister of Supply whether the computation that £2,500,000 was lost on the bulk purchases of raw cotton for three years ended 31st March, 1944, includes Lend-Lease American cotton imported during that period; 533W whether he will state the separate profit or loss on the bulk purchases of American, Egyptian, Indian, Brazilian and Peruvian cotton made during that period; and what was the amount of the loss on the American Lend-Lease cotton, calculated on the Commodity Credit Corporation's prices as quoted in the New York cotton market, plus charges, and the prices charged to the Lancashire cotton spinners.
§ Sir A. DuncanNo, Sir. Lend-Lease cotton is excluded from the calculation and it would be inappropriate to apply a purchase price to it. As regards the second part of the Question, while the cost of raw cotton has during the war varied widely between different sources, selling prices have been graded in general accordance with their pre-war relation and in such a way as to secure ready substitution of one variety for another as the supply position may render necessary, and in these circumstances it would not be right to allocate profit or loss to cotton from the particular sources.