HC Deb 25 March 1941 vol 370 cc401-2
3. Mr. Cary

asked the President of the Board of Trade whether he can make any announcement about the intention of the Government to strengthen the machinery for controlling prices?

The President of the Board of Trade (Mr. Lyttelton)

Yes, Sir. Conditions have changed greatly since the Prices of Goods Act was passed in the autumn of 1939, and in particular the supplies of goods available to the public have had to be sharply curtailed. The Prices of Goods Act has worked satisfactorily up to the present in keeping prices generally at a reasonable level in relation to costs, but I am satisfied that in the altered circumstances a further measure of price regulation is needed. I hope soon to introduce a Bill to give the Board of Trade greater powers of control over prices, other than food prices, than are provided in the existing Act, and to effect a number of improvements in the system of price regulation set up by that Act. In particular, I propose to ask in the new legislation for power to fix maximum prices for specified goods and maximum wholesale and retail percentage margins. There will also be power to deal with manufacturers' prices and margins and with the charges made for services, such as the storage of furniture. Provision will be made to prevent increases in the price of articles which are controlled under the Limitation of Supplies Orders owing to commissions on transactions between registered persons and others, or to the intervention of unnecessary intermediaries in such transactions, and it is hoped by similar means to check speculative dealing in goods which are not controlled under these Orders.

Sir Patrick Hannon

In view of the importance and complexity of this projected legislation, will the right hon. Gentleman have consultations with all the interests concerned, including, of course, the chambers of commerce, the F.B.I, and other organisations affected?

Mr. Lyttelton

Yes, Sir.

Mr. Leach

Will the right hon. Gentleman say whether he is going to leave out any class of commodity, and, if so, why he should leave it out?

Mr. Mathers

Can the right hon. Gentle-man say when this legislation is likely to come forward?

Mr. Lyttelton

That I cannot say at the moment. As far as the commodities are concerned, the powers will be used in the first instance only for essential commodities.

Mr. Leach

What is an essential commodity?