§ 23. Mr. H. Hyndasked the President of the Board of Trade whether he will take steps to protect the public by setting up a tribunal to consider complaints about excessive prices.
§ Mr. P. ThorneycroftNo, Sir. The removal of the network of controls on prices and supplies, which I found on arrival at the Board of Trade, has been of benefit to consumers, distributors and producers alike; I do not intend to undo this good work.
§ Mr. HyndHow can the President make such a statement in view of the continued rise in prices, and the obvious failure of the Monopolies Commission machinery to control?
§ Mr. ThorneycroftRises in prices have been much less under freedom than they were under control.
Mr. H. WilsonDoes not the right hon. Gentleman agree that the price increases under the Labour Government were directly related to world prices, and that all the increases were justified by world prices—indeed, that they were much less? Under the right hon. Gentleman's Administration a lot of things have increased in price far more than is justified, and that is entirely due to the increase in profits.
§ Mr. ThorneycroftI have often listened with interest, but without conviction, to the explanations the right hon. Gentleman has put forward in this matter, but it remains true that I have no intention of introducing the elaborate network of controls necessary for a rigid price-control system.