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Commodity Prices

Volume 465: debated on Thursday 26 May 1949

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asked the Chancellor of the Exchequer to what extent Marshall Aid dollars may be used by Government buying agencies to make forward purchases of commodities in the United States of America when these would show a discount compared with current prices.

No restrictions are placed by E.C.A. on the forward purchase of commodities in the U.S.A. provided E.C.A. is satisfied with the terms of the contract. No U.K. contracts have been rejected for E.C.A. financing on the grounds mentioned.

Do the British Government take advantage of the opportunities outlined in this Question when they exist?