Before deciding to fix a premium, but at a much reduced rate, for the new insurance period beginning 3rd December, I gave full consideration to the alternative course of granting a further period of cover without premium. That course was rejected in view of the uncertainty in regard to the obligations of traders and the inequalities which it would have created, and the volume of work which its application would have involved for the Board's agents who are operating the scheme. The increase of price which can be justified for any commodity by reference to the cost of insurance depends on the frequency of turnover of stocks and the varying cost of insurance as determined from time to time. The new rate of premium covers the period up to 2nd March, 1940, and will enable traders more precisely to determine their obligations in this matter. The reduction should accordingly be reflected in a corresponding modification of the prices of the various commodities. I would add that the Prices of Goods Act will provide a safeguard against any abuse in respect of goods to which the Act is applied.