§ 10. Mr. Robson Brownasked the Minister of Fuel and Power if he will consider in the national interest making a stand-still order holding up the proposed new coal price increases, pending an inquiry.
§ Mr. Geoffrey LloydThe recent increase in the pit-head price of coal was no more than was necessary to enable the National Coal Board to balance their revenue and expenditure over the year 1953. The Board started the year with a substantial accumulated deficit and, having regard to their statutory duty to balance revenue and expenditure over good years and bad, they were bound to take steps to avoid the large addition to that deficit which would have been inevitable without an immediate increase in coal prices.
The Government consider that an inquiry at the present time would serve no useful purpose and would hinder the joint efforts now being made by the Board and the National Union of Mineworkers to secure that increased production on which the future of the industry depends.