§ 59. Mr. Arbuthnotasked the Minister of Food in what main respects the agreements for the purchase of meat by the United Kingdom from Australia and New Zealand differ; when they were negotiated; and what difficulty has arisen, or is likely to arise, from the discrepancy in price paid to the two countries.
§ Major Lloyd GeorgePrice changes under the Australian Agreement negotiated in 1951 are related directly to costs movements, prices paid elsewhere being taken into account only every third year. Under the New Zealand Agreement there can be a 10 per cent. price variation in any year based on prices paid elsewhere and only changes of more than that amount need be justified by cost movements. This Agreement was negotiated in 1948, and, the price provisions were re-negotiated this year. Such discrepancies in prices as occur are inevitable under the system of Government bulk purchase and re-sale where there is no free market in which values can be measured.