§ 18. Mr. Osborneasked the President of the Board of Trade why Bradford top-makers are being forced to bid for Merino wools at higher prices, in the international market, instead of being supplied at old prices from the huge Government stocks; and what effect this will have upon utility clothing prices and the cost-of-living index.
§ Sir S. CrippsThe stocks are now jointly owned by His Majesty's Governments in the United Kingdom, Australia, New Zealand and South Africa, under an agreement which provides for their orderly disposal by public auction, alongside the current Dominion clips. As regards the latter part of the Question, there is not at present any reason to fear that production of utility cloth within the ceiling prices is being jeopardised by the prevailing prices for wool, but the position is being kept under constant observation.