Petroleum Board (Profits).

Oral Answers to Questions — Fuel and Power. – in the House of Commons on 4th August 1942.

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Photo of Mr Richard Stokes Mr Richard Stokes , Ipswich

asked the Minister of Fuel and Power how, and generally to whom, the profits made by the Petroleum Board are distributed?

Photo of Mr Gwilym Lloyd George Mr Gwilym Lloyd George , Pembrokeshire

The profits made by the Petroleum Board are distributed among the companies which are members of the Board on a basis agreed among themselves.

Photo of Mr Richard Stokes Mr Richard Stokes , Ipswich

Is the Minister aware that his predecessor told me on 17th June that the oil industry did not receive any profits from the Petroleum Board?

Photo of Mr Gwilym Lloyd George Mr Gwilym Lloyd George , Pembrokeshire

I think the Question on that date had something to do with Lend-Lease supplies.

Photo of Mr Richard Stokes Mr Richard Stokes , Ipswich

No, Sir. If the Minister will refer to that Question, he will see that I received a categorical "No" to my Question of whether profits were paid by the Petroleum Board to the oil industry.

Photo of Mr Richard Stokes Mr Richard Stokes , Ipswich

asked the Minister of Fuel and Power the profits made by the Petroleum Board for the years ending 31st December, 1939, 1940 and 1941, or other convenient period?

Photo of Mr Gwilym Lloyd George Mr Gwilym Lloyd George , Pembrokeshire

I fear I have nothing to add to the reply which was given to the hon. Member on 17th June.

Photo of Mr Richard Stokes Mr Richard Stokes , Ipswich

As that reply is also unsatisfactory, I beg to give notice that I shall raise the matter on the Adjournment to-day.