§ Mr. Edwin Wainwrightasked the Secretary of State for Prices and Consumer Protection if she will make a statement about the proposed review of the Price Code.
§ Mrs. Shirley WilliamsNow that the Prices Act is on the statute book, I propose to make early use of the powers it contains to make orders requiring unit pricing of fresh meat, fish and vegetables, and to impose maximum prices and retail margins for subsidised foods. At the same time it is the Government's intention that the Price Commission and the Price Code should continue to provide effective control over unjustifiable584W price increases, and to require price reductions whenever possible. The code was recently tightened to this end. Retail traders agreed at my request to concentrate reductions in their margins on a list of basic items, details of which I announced to the House on 12th June.
I told the House during the proceedings on the Prices Bill that I proposed to initiate a more fundamental review of the Price Code in the summer. I am arranging for this review to start now. The review will be directed, first, to possible changes in the code which would encourage the industrial efficiency and productive investment on which our future employment and wealth as a nation depend, and, secondly, to difficulties or anomalies which experience has identified in particular industries or sectors of the economy.
I do not intend at the present stage to issue any consultative document. I am inviting views from the Confederation of British Industry, the Trades Union Congress, the Retail Consortium and other representative bodies, as well as from the Price Commission and consumer organisations. But any firm, trade union or organisation is most welcome to offer views, and I am taking steps to see that this invitation is widely known. I hope they will be able to respond before the beginning of the main holiday period, and I am asking, therefore, that views, advice and observations be submitted by early August.
In the light of this evidence, and of any necessary discussions, I hope to issue in September a consultative document which, as on previous occasions, will contain more precise proposals for amendments to the code. This document will form the basis for further consultations and for final amendment of the code.