§ 52. Mr. Spriggsasked the Minister of Power what estimate he has made of the effect which increased steel prices will have upon the national economy, and in particular on the export trade; and whether he will now take steps to control the price of steel.
§ Mr. WoodThe Iron and Steel Board estimates that the recent permitted increases in maximum steel prices add less than one-sixth of 1 per cent. to the cost of goods containing steel supplied to the home market. The export prices of such goods are affected by other factors besides the price of British steel, and it is impossible to estimate the effect of this slight increase in their costs upon the export trade. The prices of the principal steel products are already controlled by the Iron and Steel Board.