asked the Minister for Industry and Commerce if, from the accounts furnished to his Department by the accountants to the Irish Flour Millers' Association, he will state the amounts of the total profits made by the flour millers in each year from 1951 to the most recent date for which figures are available.
Ceisteanna—Questions. Oral Answers. - Flour Millers' Profits.
44.
The accounts referred to by the Deputy were furnished only for the purposes of flour subsidy which was abolished in May, 1957. In the period up to 23rd April, 1953 the amount of subsidy paid was such as allowed the milling industry a profit of 6 per cent. per annum on the capital of approximately £4,000,000 employed in the industry together with a sum of £150,000 per annum for depreciation. In the period subsequent to 23rd April, 1953 the amount of subsidy paid was such as would allow the milling industry a sum of 4/6d. per sack of flour produced to provide for profit and depreciation. Sales of subsidised flour in this latter period from 1953 to 1957 averaged about 2½ million sacks per annum.
As far as the Minister is concerned, they can make any profit they like at the expense of the consumers of bread.