HC Deb 15 June 1950 vol 476 cc27-8W
67. Mr. Osborne

asked the Minister of Agriculture if he is aware of the dissatisfaction amongst Lincolnshire farmers regarding the 3d. per lb. reduction in price he proposes to give for Lincolnshire wool; and if he will make a statement.

Mr. T. Williams

I am aware of the dissatisfaction to which the hon. Member refers, and I welcome this opportunity to explain why this reduction has been made. As I announced in reply to the hon. Member for Newbury (Mr. Hurd) on 4th May, the guaranteed average price for the 1950 wool clip has been fixed at 27.05 pence per lb., representing an increase on the average price for the previous year equivalent to the whole of the estimated increased costs of production. Having determined this average price it is our duty to see that each type of wool receives a share of that price proportionate to its realised market value. If one type receives more than its proportionate value, this can only be at the expense of others.

A partial adjustment of individual wool prices was made last year. The wider experience of the market that we have since obtained has shown that the increase then given to Lincoln wool was too great, and the reductions in the price of Lincoln and certain other wools is no more than is necessary to put them into their proper place in relation to other wool types.