§ 8. Sir Waldron Smithers
asked the Minister of Labour to state, by professions and industries, the increase of wages and salaries granted since 1st January, 1950, giving the amounts and numbers of people involved.
§ Mr. Isaacs
It is estimated that between 1st January and 30th October, 1950, changes in rates of wages resulted in a 175 net increase of nearly £670,000 in the weekly full-time wages of approximately 3½ million wage-earners. Details by industry groups were published in the Ministry of Labour Gazette for November, 1950. Similar information is not available in respect of professional and other salaried workers.
§ Sir W. Smithers
Will the right hon. Gentleman tell the people of this country that it is not the amount of wages which matters, but their purchasing power; and that Marshall Aid and the sellers' market are nearly at an end? What is the good of a thousand paper pounds a week if they are worthless? My other question is: will the right hon. Gentleman please read the articles in the May and November numbers of the "National Provincial Bank Review" by Mr. Hodder? They will do him a bit of good.