asked the Minister for Industry and Commerce if he is prepared to control the price of bolts and nuts in proportion to the cost of imported iron.
Ceisteanna — Questions. Oral Answers. - Price of Bolts and Nuts.
The prices charged by the manufacturers are already subject to control and the question of a reduction in price following on any reduction in the price of iron will receive consideration. These articles form part of a wide range of goods for which fixing of wholesale and retail prices would be difficult. I do not propose to fix such prices, but I will, however, have any specific instances of overcharging investigated.
Is the Minister aware that iron is being imported into this country and the price charged is £47 10s. per ton, and that the same iron can be purchased in Birmingham at £18 10s. per ton?
That is quite possible.
Is it not very unfair that the users should be fleeced to such an extent? The retail price of that iron would be about £65 per ton.
The Deputy may be assured that the iron is being imported at the lowest price at which we can get it.
Would the Minister not agree that the difference between £18 and £65 represents an exorbitant profit?
There is no question of an exorbitant profit. We are unable to import iron at the price at which the Deputy stated it was available in Birmingham.