asked the Minister for Industry and Commerce whether his attention has been drawn to a statement by Lord Rank, who exercises financial control over the greater part of the flour milling and baking industry, that because of failure to obtain a proper financial return he will not be prepared to carry out modernisation work in the industry; and, if so, what action he proposes to take in regard to it.
Ceisteanna—Questions. Oral Answers. - Flour Milling Industry.
44.
I have seen a press report of a statement by Lord Rank to the effect that it is essential for flour millers to obtain a proper financial return, as otherwise it will not be possible to replace plant, introduce modern techniques, or, in the long run, maintain efficiency.
The Prices Advisory Committee, which recently investigated the flour millers' prices for flour, and which recommended the reduction in flour prices which was implemented as from 1st January, 1965, took all relevant factors into account, including the question of the financial return to the millers.
Does the Minister propose to take any steps to consider the desirability of acquiring this industry for public ownership so that we can take steps to modernise and provide bread to the consumer at reasonable prices instead of, as is being provided, bad bread at high prices?
Who would put up the capital to purchase? Or would it be just as in a totalitarian State?
Could I ask the Minister how he proposes to acquire the B. & I.?
I am allowing only one supplementary.
That is not a totalitarian act.
Where are you getting the money for that?
Different considerations are involved.