HC Deb 19 October 1954 vol 531 cc1015-6
10. Mr. Dodds

asked the Minister of Labour if he is aware of the growing concern at the rise this year in the cost-of-living index; and what action Her Majesty's Government are taking to reduce it to the level of October, 1951, at 129 points.

Mr. Watkinson

The Interim Index of Retail Prices fell to 144 in August and to 143 in September when it was only 2.4 per cent. above the level of September, 1953. Between September, 1952, and September, 1953, the index rose by 2.6 per cent. The Government will continue to pursue the policies which have been responsible for this degree of stability in retail prices during the last two years.

Mr. Dodds

But can the hon. Gentleman deny that the present position, despite what he has said, is that the figure is three points higher than it was on 1st January, 1954, five points higher than on 1st January, 1953, and 14 points higher than when the present Government took office? Does it mean that when the Chancellor said the Government would stabilise prices, it will be in the 140's and not around 129, as it was when they came into office?

Mr. Watkinson

I think the hon. Gentleman does not quite understand what we mean by levelling up. Perhaps I ought to add that in June this year, for the first time since the war, the index of wages drew level with the index of prices—[An HON. MEMBER: "What about the old-age pensioners?"]—and in the past 12 months the index of weekly wage rates has risen 4.3 per cent. compared with a 2.4 per cent. rise in the Index of Retail Prices.

Lieut.-Colonel Bromley-Davenport

Can my hon. Friend tell the House how much the cost of living rose under the misrule of the Socialist Government?