Earl of Dalkeithasked the Chancellor of the Exchequer what calculation he has made of the long-term cost to the economy and balance of payments of the present disruption of the home timber industry by the import of processed timber at artificially and temporarily favourable low prices; and whether he will now make a fresh study of the desirability of placing the home industry on a firm footing by making investment allowances at the top rate available for equipment for converting and processing home-grown timber, in preparation for the hardening of world prices due to the growing world shortage of readily available softwood supplies.
§ Mr. MacDermotI do not accept that the home timber industry is suffering disruption. Investment allowances have been superseded by the investment grant332W system and I do not think that it would be desirable to reintroduce them in this particular field.