asked the Minister for Agriculture if he will state the estimated subsidy for one year for the purchase of wheat based on prices effective in (a) March, 1948; (b) June, 1948; and (c) in 1949-50 (estimated).
Ceisteanna—Questions. Oral Answers. - Wheat Subsidy.
The cost of the flour subsidy depends on the prices of imported and native wheats and the proportion of each used in the grist in a particular period.
The estimated subsidy for one year on the basis of the price of Argentine wheat which was in course of shipment in March, 1948, would be £18,000,000 if no other wheat were used in the grist. If only native wheat purchased from growers at 55/- per barrel were used the annual cost would be approximately £6,600,000 and at a price of 62/6 per barrel to growers the cost would be approximately £8,380,000.
On the basis of the price of Australian wheat used in the grist in June, 1948, the annual cost of the subsidy would be approximately £9,850,000 if no other wheat were used.
If the actual grists used in March, 1948, and June, 1948, were maintained for a full year, the subsidy costs would be approximately £8,000,000 and £13,470,000 respectively.
The estimated cost of the subsidy for 1949-50 financial year is £6,781,000.