§ Mr. CHIOZZA MONEYasked the President of the Board of Trade if he will state the nature of the arrangement by which the German Steel Syndicate pays an export bounty to its members; the amount of the bounty; what aggregate sums have been paid in bounties by the syndicate since its formation; and what is the eco- 1652W nomic effect of the arrangement upon German production and export?
Mr. BUXTONI understand that the arrangement in question is one whereby the makers of certain classes of steel manufactures receive from the syndicate controlling the sale of the steel used by them a sum (varying from time to time) for every ton of more finished goods exported, this sum being allowed as a rebate on the price of the steel used in the manufacture of the goods. It appears, therefore, that such "bounties" are not given in respect of goods manufactured for export by firms who themselves make the steel. Recent accounts of the arrangement will be found in the Report for 1909 of His Majesty's Consul-General at Frankfurt (Annual Series No. 4,570) and the previous Reports therein referred to. I am informed that the "bounty" at present paid is fifteen marks per ton of exported manufactures, but I have no information as to the aggregate sums which have been paid by the Steel Syndicate since its formation. The last part of my hon. Friend's question is a matter for discussion and individual opinion, and I am not prepared to express any views upon it.