§ Sir H. Williamsasked the Minister of Supply whether his attention has been drawn to the danger to the tin-smelting industry, caused by the order fixing prices at a level substantially below those ruling in the United States of America; and whether he will state what action he proposes to take to safeguard the industry?
§ Mr. BurginOrders fixing maximum prices for tin were issued simultaneously here and in Singapore as a temporary expedient to meet the wholly abnormal situation created by the sudden and violent expansion of demand in America and elsewhere which followed the outbreak of war, and to avoid a dangerous disturbance of our price structure.
1608WAs my hon. Friend is aware, the American spot price has already fallen a long way from the highest level, but the removal of the maximum price can only be considered when market conditions become more normal. I hope that the increased supplies of tin now coming forward as a result of the high quota fixed by the International Tin Committee will soon permit of a more normal relationship between the domestic price and the world price. The Government attaches importance to the domestic smelting industry and is watching the position closely.