§ 71. Mr. Ronald Chamberlainasked the Chancellor of the Exchequer whether, in view of the lack of response of the Federation of British Industries to his written request of last February for a scheme for the reduction of prices and profits, he will now renew that request.
§ Sir S. CrippsThe request for a voluntary reduction of prices and so of profits which I made at the time of the issue of the White Paper on Personal Incomes was addressed to the country generally including all those concerned with wholesale and retail distribution. It is not possible to place any numerical evaluation upon the response to my request but I have had evidence of many price reductions resulting from it and of higher costs absorbed into prices without increase. I hope that everyone is aware of the need to continue to do everything possible to reduce prices especially by increasing productivity as this point has been constantly stressed throughout the year.
§ Mr. ChamberlainBut has not my right hon. and learned Friend overlooked the fact that he asked the F.B.I. specifically, for a plan for price and profit decreases, and that they gave him no plan but merely threw him a worthless bone of dividend limitation, dividends already being far too high?
§ Sir S. CrippsThere were two matters with which I asked the F.B.I. to deal. One was to get a limitation on any increase in dividends, which they have done, and which has been largely if not wholly successful; secondly, to take what steps they could—and other bodies like the Co-operatives and so on—to see that any price reductions that were possible Were brought about. That they also did, and a large number of price reductions resulted.