§ 56. Mr. Ernest Daviesasked the Minister of Labour the percentage rise that has taken place in the retail prices of electricity and gas since vesting dates, respectively; and how they compare with the movement during the same periods in the general index of retail prices.
§ Mr. Iain MacleodAt January, 1956, the Index of Retail Prices was about 42 per cent. higher than in April, 1948, and about 39 per cent. higher than in May, 1949. I cannot give corresponding percentages for individual items included in the Index, but for the sub-group which covers prices of electricity, gas, oil and candles, taken together, the average rise has been about 56 per cent. since April, 1948, and about 51 per cent. since May. 1949.
§ Mr. DaviesIs not the Minister aware that the rise in the price of electricity and gas has been far less than the average rise in retail prices? Is it not, therefore, the fact that the nationalised industries, by greater efficiency and economy have been able to meet rising prices?
§ Mr. MacleodI gave figures in regard only to the sub-group which includes both electricity and gas, and those figures, which the hon. Member can study, prove precisely the reverse of what the hon. Gentleman has said.