§ 31. Mr. Osborneasked the Lord Privy Seal in view of the fact that the Raw Cotton Commission made a profit of £8,441,361 in the six months ended 31st January, 1951, as compared with £9,940,000 for the preceding year, and, since he is advising private industry to cut profits in order to reduce the cost of living, if he will direct the Raw Cotton Commission to reduce its profits.
§ Mr. StokesThe Raw Cotton Commission is required by statute to sell cotton at such prices as may seem to them best calculated to further the public interest in all respects, and, subject to this requirement, to sell it at prices as low as possible consistent with their statutory duty to balance their accounts on an average of good and bad years. To do as the hon. Member suggests would make it impossible for them so to balance their accounts.