§ 74. Sir W. Smithersasked the President of the Board of Trade the cost of Subsidies 1 and 2 on wool materials and the estimated cost of the new subsidy put on this year.
§ Mr. BelcherI assume that, by subsidies 1 and 2, the hon. Member is referring to the different scales of rebate on utility wool cloth designed to offset the increased costs of the clothing manufacturers. The original scale of rebates came into operation on 1st February, 1945, and payments under this head have since amounted to £3,059,000. The scale of rebates was increased in June, 1946, and payments at the new rate have since amounted to £4,720,000. No figures are yet available in respect of the new subsidy, designed to offset the increase in the cost of the cloth itself but, as I stated during the Debate on the Board of Trade Civil Supplementary Estimates on 7th March the revised estimate of £7¾ million for the current financial year should be sufficient to cover any expenditure under this head.