§ 59. Sir W. Davisonasked the Chancellor of the Exchequer the current prices for the quartern loaf, the pound of sugar and the stone of potatoes, respectively; and what would be the prices of these commodities apart from Government subsidy?
§ Sir K. WoodThe current price of a quartern loaf is 9d., a pound of sugar 3d. and a stone of potatoes 1s. 1½d.; the prices of these commodities apart from the subsidies would be 11d., 5⅓d. and 1s. 8½d. respectively.
§ 60. Sir W. Davisonasked the Chancellor of the Exchequer the result of the Government's policy in stabilising wages by granting subsidies to secure a reduction in the current prices of staple foods; and the present percentage increase in the cost-of-living index and in the wage index, respectively?
§ Sir K. WoodAs I stated in the Budget speech, the stabilisation policy and the wages policy set out in the White Paper of July, 1941, are complementary, and while there is still need for vigilance, the Government regard both as having been successful. At the end of April, 1943, the cost-of-living index had increased by 28 per cent. over the level of September, 1939, and at the same date the estimated average level of full-time weekly rates of wages was 35–36 per cent. above that of September, 1939. Included in this estimate is the effect of the special adjustments of rates in agriculture, merchant shipping and certain other industries.
§ Sir W. DavisonWould it not be desirable, having regard to the policy of the Government, to fix a ceiling of some kind and to give increases of wages in proportion to increases in the cost-of-living?
§ Sir K. WoodNo, Sir. I would refer my hon. Friend to the White Paper which has been issued on this matter, which remains the policy of the Government.