§ Mr. Rhys Daviesasked the Minister of Fuel and Power the estimated total income from the 4s. increase per ton in the price of coal for any given period; the cost of the increased wages which the increase in price per ton is to cover for the same period; and the credit or deficit arising between the two figures.
Major Lloyd GeorgeDeep-mined coal, available for sale commercially, is now being produced at the rate of about 170 million tons per annum. On this basis the annual income from the 4s. per ton increase in price would be about £34,000,000 per annum. More than half of this is required to meet the current cost of increased wages; the balance is required to meet other increases in costs which have occurred and to repay a very large deficiency on the Coal Charge Account which had accumulated at 1st August last largely because wages were increased several months before the price of coal was raised.