§ 8. Lieut.-Colonel Liptonasked the Minister of Labour when a more accurate and up-to-date index will be available to measure changes in the cost of living.
§ Mr. WatkinsonThe method of calculating the Interim Index of Retail Prices was revised in 1952. On the recommendation of the Cost-of-Living Advisory Committee, a comprehensive inquiry into household expenditure was undertaken over a period of 12 months ending early in 1954 for the purpose of providing more up-to-date information for the index. The information collected in this inquiry is now being studied by the Cost-of-Living Advisory Committee, and I hope that, with its help, it will be possible to carry out a further revision of the index towards the end of this year.
§ Lieut.-Colonel LiptonIs the hon. Gentleman aware that old-age pensioners and people on small fixed incomes regard the present interim index with profound suspicion, because it understates the extent to which the cost of living has risen and therefore presents a rather false and inaccurate picture?
§ Mr. WatkinsonI am also aware that the economic report of the T.U.C. states that the T.U.C. thought this index was, on the whole, a very fair measure of the cost of living—
§ Lieut.-Colonel LiptonHow long ago?
§ Mr. WatkinsonIt is the current report—and that the inquiry we are undertaking will probably not bring about any major modification in the form.
§ Colonel Gomme-DuncanIs my hon. Friend aware that the cost-of-living bogey was a complete flop at the General Election, and does he not think that the hon. and gallant Member should think of something new in this direction?
§ Mr. StokesIs the Minister aware that what really happened at the General Election was that the Tory Press refused to tell the truth about the rise in the cost of living?
§ Mr. WatkinsonI am not unaware of what happened at the General Election. But as my Ministry is charged with presenting the facts fairly on an important 400 matter like this, we had better stick to facts and not discuss politics.
§ Mr. StokesBut is the Minister aware that between 1951 and 1955 the cost of essential foodstuffs rose by 50 per cent.? He cannot laugh off that one, and if he denies it that would be a lie.
§ Lieut.-Colonel LiptonIn view of the unsatisfactory nature of the reply, I beg to give notice that I shall endeavour to raise the matter on the Adjournment.