§ 53. Sir K. WOODasked the Minister of Labour whether she can give the House any information which she has at her disposal in relation to the present rates of money wages as compared with 441 the cost of living, giving, approximately, the amount by which the fall in the cost of living exceeds the reduction in the present rate of wages?
§ Mr. LAWSONDuring the past 12 months, the official index figure relating to changes in the average level of working-class cost of living has fallen by about 6 percent. The average reduction, during the same period, in rates of money wages for a full week is estimated to have been about 1 percent.
§ Mr. KIRKWOODIs it not the case that since 1920 working-class wages have been reduced by 30 per cent. on account of the cost of living and that these reductions are still in force? Will the hon. Member put it to the Cabinet that they should turn their attention to those who lent money to carry on the War and who are now drawing their profits? There bas been no reduction in their payments.