§ Sir W. Smithersasked the President of the Board of Trade why there is a 302W difference in the fixed price of cloth, sold at 3s 9½d. for the home trade and the same cloth sold for export at 4s. 7d; and, in view of the importance of the export trade, if he will take steps to remedy this anomaly.
§ Mr. Belcher:The prices quoted by the hon. Member do not enable me to identify the cloth to which he refers. In general, as a result of the Government's policy of price stabilisation, the value of cloth in a foreign market is often greater than the price at which it can be sold for the home trade; as the price of cloth for export is not controlled, this difference will tend to be reflected in the price which the cloth will command for export. Having regard to the need for foreign exchange, it would be undesirable that cloth for export should be sold at less than its value in the overseas market.