§ 44. Mr. Osborneasked the Minister of Supply why a price-fixing policy for imported finished steel has been adopted; and why a loss on this account of £6,282,064 was transferred from the trading account to capital account.
§ Mr. G. R. StraussImported finished steel costs more than home-produced steel, and the extra costs, including Import Duty, have as a matter of policy been borne by public funds in order to secure maximum imports and to maintain uniform steel prices to United Kingdom consumers. The additional cost in question is written off by transfer to the capital account since it does not arise from ordinary trading operations and is not recoverable in future sales.