§ 23. Mr. Osborneasked the President of the Board of Trade what will be the effect on hosiery utility prices of the increase of nearly 50 per cent. in the price of wool since devaluation.
Mr. H. WilsonThe effect will vary according to the amount and type of wool in each garment. Increases already made in manufacturers' maximum prices for hosiery since devaluation amount on an average to about 12 per cent.
§ Mr. OsborneWould not the Minister agree that this is yet another addition to the cost of living, and disproves the Chancellor's statement that bread would be the only food to rise in price as a result of devaluation?
Mr. WilsonIf the hon. Gentleman would once again study what my right hon. and learned Friend said, he would see that there was no disparity between what he said and what has happened.
§ Mr. SpenceWill the right hon. Gentleman do something to speed up the revision of prices in this rapidly rising market? Is he aware that the prices given by his Department today are based on the raw material prices obtaining last September?
Mr. WilsonAs far as hosiery is concerned, I think we are fairly speedy. I am not prepared to agree to increases in prices at too early a stage before the goods arrive in the shops, and I would count on the support of the hon. Gentleman and other hon. Members opposite to help to fight the rising cost of living.