26. Major BARNESasked the Prime Minister whether, in view of the continued increase in prices and the cost of living, he will say if the Government are satisfied with the steps they have taken or are taking to lower prices and the cost of living, or, if not, if they propose to take any further steps; and, if so, what steps they propose to take?
§ The PRIME MINISTERThe high level of prices and of the cost of living is largely due to conditions arising out 589 of the War, over which the Government have no direct control, and which can only be remedied by increased production, and by personal and national economy. His Majesty's Government anticipate that national revenue will cover national expenditure in next financial year, and that substantial reductions in debt will be effected. There is no short cut to lower prices, which can only result from a steadily pursued policy. In the meantime, the machinery of the Profiteering Act is operating to prevent the exploitation of the present situation by individuals, and the Government has under consideration whether some strengthening of the Act or of its administration would or would not be advisable. The Government is of the opinion that any attempt to exercise a rigid control over prices would prove damaging to all classes, in the long run, by checking the recovery of the country from the effects of the War.
§ Lieut. - Commander KENWORTHYCan the right hon. Gentleman take further steps to bring about peace in Central Europe, especially in the case of Poland and Russia, with a view to freeing the markets and bringing down prices?
§ The PRIME MINISTERI should be very glad to see peace, not only in Central Europe, but all over the world, both at home and abroad—
§ Captain REDMONDAnd Ireland?
§ The PRIME MINISTERYes, in Ireland too. All we can do is to encourage production in this country.
§ Mr. RENWICKMay I ask if the Government is taking any steps to induce our Colonies and foreign countries to supply us with food and other necessary products, and to reduce their prices to us?
§ 44. Sir W. DAVISONasked the Prime Minister if he can now state whether, in view of the prevailing ignorance on the part of the general public as to the causes for the existing high prices resulting in national unrest, and having regard to the urgent need for the co-operation of all classes in securing frugal living and increased production, he will issue in a concise form the Report of the Supreme Council of the League of Nations on the 590 economic conditions of the world, and their recommendations as to the methods by which normal conditions may most quickly be re-established, so that the same may be available for Members for distribution among their contituents?
§ The PRIME MINISTERI have already arranged that the manifesto issued by the Supreme Council in regard to the economic condition in Europe shall be laid as a White Paper. The paper was presented yesterday and I hope that it will be in the hands of hon. Members shortly. I am also considering what means can be adopted to give the document as wide publicity as possible.
§ Mr. BILLINGWill it be possible to publish it at a penny on the general book stores?
§ The PRIME MINISTERThat is one of the suggestions I have considered this morning.
§ Mr. RENWICKCan the right hon. Gentleman take any steps to explain to the public that the high prices which are charged to this country for wheat and other produce which we require from abroad are the main cause of the high prices prevailing?