Recommendation 7 (1951)
Establishment of a Raw Material Resources and Purchasing Board
The Assembly
Bearing in mind the rising cost of living and the consequential hardship both to wage and salary earners and to those, like pensioners, with fixed incomes ;
Mindful of the rising cost of the defence programme and its heavy burden on the tax-payer ;
Recognising that these rising costs are, in great measure, due to the rising prices of overseas commodities ;
And having due regard to the necessity of denying strategic raw materials to aggressor States ;
Calls on the Committee of Ministers
to concert action with the Governments of the United States, of the Member States of the Council of Europe and of the British Commonwealth with a view to establishing a Raw Material Resources and Purchasing Board which will have as its task :
a. to bring down prices and stabilise the commodity markets by all appropriate measures ;
b. to ensure that allocations are made to its members for stock-piling and current use on the basis of fair shares and common strategy.