HC Deb 07 April 1952 vol 498 cc185-6W
106. Captain Duncan

asked the Secretary for Overseas Trade, as representing the Chancellor of the Duchy of Lancaster, what is the anticipated cost to the taxpayer in disposing of jute at the lower price recently announced which had been bought by him at the higher price of over £200 a ton.

Mr. Hopkinson

The loss resulting from the disposal of raw jute and jute goods at the prices recently announced is estimated at £4,800,000. Previous profits on post-war trading amounted to some £6 million. The average cost of the jute was substantially below the £200 a ton quoted by my hon. and gallant Friend.