MAJOR BARNESasked the President of the Board of Trade if the agreement of the 16th May, 1919, made between the 1831W President of the Board of Trade and the Trustee of the British Dye Stuffs Corporation on 16th June, 1919, was ratified by the British Dye Stuffs Corporation; by whom the proposal to modify the agreement was made; what were the grounds advanced in support of the modification: and on what date was the share capital subscribed for by the Government?
§ Sir A. GEDDESThe answer to the first part of the question is in the affirmative. Suggestions as to the modification of the form of Government financial assistance were made to the Hoard of Trade mainly by representatives of the dye-using interests, on the ground that though His Majesty's Government were urging those interests to give financial support to the development of the dye-making industry in this country because of its national importance, the Government were not participating in the risks, but were taking ample security for their advances, thus throwing the whole risk upon the consumers. The Government subscription for shares, as I have already explained to the hon. Member, was an alteration in the form of the Government's financial assistance to the dye industry in this country. This alteration was made on the 17th July of this year.