§ Mr. R. A. Butler
The published Index of Industrial Production shows that there was a fall in industrial output of 2 per cent. in 1952, followed by a rise of 6 per cent. in 1953, and, probably, 6 per cent. in 1954. It is not possible to draw any conclusions as to the relationship between these estimates and changes in retail prices.
§ Mr. Butler
I have received many essays from the "Economist" on the subject of the hon. Lady's Question, and the common link, as she so perspicaciously remarked, is an increase in production, but there are many other factors dependent on the trend of the indices. If the hon. Lady would like me to send some of the essays I have on this subject to her, I shall be glad to do so.