§ 25. Lieut.-Colonel Liptonasked the President of the Board of Trade whether in view of the increased profits of firms retailing boots and shoes, he will take steps to reduce retail prices.
§ Mr. H. WilsonSteps have already been taken. Orders reducing both wholesalers' and retailers' margins for footwear were made on 10th February (S.I. 1949 Nos. 205 and 206). The reduced margins came into operation on Monday, 28th February.
§ Lieut.-Colonel LiptonCan my right hon. Friend say when these reduced profit margins will be reflected in lower shop 1378 prices? Has not the time arrived when the abolition of maximum prices would lead to even greater reductions to the advantage of family budgets?
§ Mr. WilsonNo, Sir. If it required the reduction of maximum prices to get a fall of 1s. 7d. in the pound in retailers' margins, I am certainly not satisfied that to take away price control altogether would reduce the price.
§ Mr. SolleyIs my right hon. Friend aware that the increase in profits of boot companies over the last 12 months, if distributed so as to bring down the cost of boots and shoes, would bring a reduction in price of 5s. per pair?
§ Mr. WilsonWe have to reckon on the fact that it is not only the big companies who are involved in relation to retailing. Measures taken with these price control orders will make a big difference both to prices and profits.