§ Mr. BOTTOMLEYasked the Chancellor of the Exchequer if he will state the net profit derived by the State from the control of food and coal down to 31st December last?
§ Mr. BALDWINThe accounts of the Ministry of Food are closed at the 31st March to coincide with the Government financial year. The Trading Accounts and Balance Sheet of the Ministry of 1293W Food have been prepared for the year ended 31st March, 1918, and show a surplus on trading account, after debiting expenses of administration, of £133,363. This figure excludes the operations of the Wheat Commission and Sugar Commission, but I will communicate with the hon. Member as soon as these figures are available. It also takes no account of the amount paid away to 31st March, 1918, under the direct subsidy authorised by the Cabinet to potato growers, as it was considered that this was not a proper charge to be included in the trading accounts.
It is impossible to estimate the trading results to the end of March, 1919, because of the uncertainty of the price that may be realised on the stocks, held by the Ministry at that date, but it is anticipated that losses will be incurred by the Ministry of Food in liquidaing the stocks which they hold, owing to the fall in the prices of foodstuffs.
The financial results of the Coal Control up to the 31st December, 1918, show a deficiency as at the 1st January, 1919, of £1,590,530 0s. 3d