§ Mr. Eldon Griffithsasked the Minister of Agriculture, Fisheries and Food why, when the price of white bread has more than doubled over the last decade, farmers' returns on wheat have fallen during the same period; and if he will make a statement.
§ Mr. HoyIn the decade 1959–69, the average price of unwrapped white bread has increased by about 80 per cent. and the guaranteed price for wheat has increased by about 5 per cent. There is no direct correlation between these two prices; moreover, home-grown wheat accounts for only about 5 per cent. of the price of a loaf. Guaranteed prices for wheat have been determined at Annual Reviews in the light of all relevant factors, including profitability. Since the introduction of the Government's prices and income policy, increases in bread prices have taken place only when we were satisfied that they were fully justified under the policy and, on appropriate occasions, following consideration by the National Board for Prices and Incomes.