§ 49. Mr. Austinasked the Chancellor of the Exchequer whether he will underline his recent appeal to industry for lower profit margins by making direct Government recommendations on this matter to the Federation of British Industries, the National Union of Manufacturers and other responsible trade organisations.
§ Sir S. CrippsThe need for all possible measures to reduce prices has been thoroughly emphasised and must be fully appreciated by all responsible trade organisations.
§ Mr. AustinIn view of the fact that circumstances prove that this position is not appreciated by trade organisations why does not my right hon. and learned Friend take the initiative? He will sooner or later have to take some initiative in making some of these proposals?
§ Sir S. CrippsThe initiative was taken a long time ago and to repeat the initiative will not necessarily make it more effective.
§ Mr. Ronald ChamberlainWould it not be a good thing if the Chancellor addressed to the Federation of British Industries the letter which he addressed to them in February last year asking for a scheme of price and profit reduction and for him this time to insist on a less evasive and more honest reply?
§ Sir S. CrippsI think that their reply was both honest and unevasive.