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Imported Wool (Price)

Volume 464: debated on Tuesday 26 April 1949

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asked the President of the Board of Trade what is the average price of wool per pound imported into the country.

The average value of raw sheeps' and lambs' wool imported into the United Kingdom during the month of March, 1949, as calculated, from the Official Trade and Navigation Accounts for that month, was 38.3 pence per lb.

Then can the Parliamentary Secretary explain why, in view of the figure of 3s. 2d. per lb., the price of the raw material in a suit is between 40s. and 45s. per lb., which amounts to about £15? Can the Parliamentary Secretary explain the difference between those figures?

I would ask the hon. Gentleman to remember that the average price which I have given him covers wool in all kinds of conditions. It is not easy to deduce, from the price I have given him, any straight argument as to the price of wool in the finished suit.