§ Mr. Richard Shepherdasked the Secretary of State for Trade what is his policy on the stabilisation of commodity prices; and if he will make a statement.
§ Mr. ParkinsonWe are in favour of measures to stabilise commodity prices where these are practical and cost-effective, and we support the programme of work under way in UNCTAD designed to establish on a commodity by commodity basis the scope for international action to stabilise prices. We also support the proposal to establish the common fund and can associate ourselves with the general consensus that was reached at the UNCTAD negotiating conference in March on the main elements of the structure and financial resources of the fund.