HC Deb 04 November 1954 vol 532 cc76-7W
83. Mr. N. Macpherson

asked the President of the Board of Trade on what grounds he authorised the purchase of United States tobacco, to the value of $30,000,000, to be held and stored in the United States of America in excess of the normal dollar allocation for tobacco; what the loan and warehouse charges are estimated at; and whether he will give an assurance that this purchase will form part of next year's normal allocation and not be in addition to it.

Mr. P. Thorneycroft

Upon commercial grounds, these arrangements (which include Canada) have been made to enable buyers to take advantage of this year's favourable crop conditions in the United States. The charges are not expected to exceed about $1 million. These arrangements will not involve any additional dollar expenditure since payment will be made from the dollars which would in any event be made available for the purchase of tobacco next year.