asked the President of the Board of Trade if he is aware that many of our exports are being sold at prices that are too low having regard to the market conditions and the cost of our imports; and whether he will make a statement of policy.

The excellent performance of United Kingdom exports during the past year has shown that our prices for the most part have been fully competitive. The rapidly rising costs of imported raw materials are now inevitably forcing up prices of exports, but the Government's policy is to leave to the individual exporter, in the light of his special knowledge of short and longer term commercial considerations, the determination of the prices of his exports. I am sure that individual exporters will not voluntarily raise prices to such an extent as to endanger their future trade but, subject to that, it is clear that an increase in export prices may be desirable in order to help us to balance our trading accounts at a time when import prices are rising so markedly.