§ 20. Mr. Donnellyasked the Minister of Labour if he will make a statement on the relation of the index of wage rates, as compared with the cost-of-living index, during April, 1955.
§ The Minister of Labour and National Service (Sir Walter Monckton)The latest available information relates to February. Taking June, 1947, as 100, the index of wage rates at the end of 1316 February, 1955, was 146, and the Interim Index of Retail Prices at 15th February was also 146.
§ Mr. J. GriffithsCan the Minister say to what extent the cost-of-living index figure is accepted these days? Is it not generally unacceptable in wage negotiations of this kind?
§ Sir W. MoncktonNo, Sir. I find that it is accepted, and everyone is looking forward to seeing whether the full inquiry which has been made and the results of which are being collated will alter it much. I do not think it will be shown to be deceptive in any way.
§ Mr. RentonCould my right hon. and learned Friend say whether, although the two indices are standing at the same figure now, it is not a fact that the index of wages has risen more than the cost-of-living index since the present Government came into power?
§ Sir W. MoncktonI think that is so. If my hon. Friend wants the March figures, I do not want to make any informed guess, but perhaps he will look at them when they come out in the middle of this month.