Ministry of Materials (Strategic Reserves)

Part of Class Ix. Vote 17 – in the House of Commons at 12:00 am on 26 January 1953.

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Photo of Lieut-Colonel Sir Walter Smiles Lieut-Colonel Sir Walter Smiles , North Down 12:00, 26 January 1953

I agree with the right hon. Gentleman the Member for Ipswich (Mr. Stokes) when he throws compliments and bouquets at the two Ministers. As far as I can see, the impression was given abroad that the British Government were not in the market for strategic materials and the prices dropped. Then some other Minister comes in by the back door and buys these materials much cheaper. I commend that policy. It is bad policy indeed when one advertises to the whole world that the British Government are in the market for strategic materials and immediately prices go up. I hope that the Government will continue the policy of buying as cheaply as possible.