§ 62. Mr. Horobinasked the President of the Board of Trade whether he is now in a position to make an announcement about the purchase arrangements for raw cotton in the coming buying season.
Mr. P. ThomeycroftYes. The Government have decided that "cover" should be made available to the cotton industry in the 1953–54 buying season on terms broadly similar to, though not necessarily identical with, those provided this season by the Raw Cotton Commission. A number of problems arise, however, with regard to the operations of the Raw Cotton Commission and to the precise terms and methods whereby the "cover" scheme is to be worked. My right hon. Friend the Minister of Materials and I, after discussion with the organisations which were represented on the Cotton Import Committee, have therefore decided to set up a Review Committee with terms of reference as follows
To consider whether, within the framework of the Report of the Cotton Import Committee, any change would be desirable in the obligations and duties at present imposed on the Raw Cotton Commission, with respect 57W in particular to the supply of cotton and provision of 'cover' to the United Kingdom cotton industry; and to make recommendations.I am happy to say that Sir Richard Hopkins has again consented to act as Chairman of the Committee and that its composition will be substantially the same as that of the original Committee.