HC Deb 10 December 1959 vol 615 cc712-3
4. Miss Lee

asked the President of the Board of Trade if he will introduce legislation to amend the Monopolies and Restrictive Practices Acts, 1948 and 1953, in order to obtain powers to ensure that concerns upon which the Monopolies Commission has reported shall require his consent for any changes in the level of their prices and profits.

Mr. Erroll

No, Sir.

Miss Lee

Can the hon. Gentleman explain how we can reconcile the Chancellor of the Exchequer's appeal for a reduction in prices with the fact that some monopolies—I have particularly in mind the British Oxygen Company—were condemned by the majority of the Monopolies Commission, who asked that prices should be controlled? The Government reject that. They reject also the minority report of Mr. Alan Birch and Mr. Heywood that this industry should be publicly owned. Is the hon. Gentleman aware that I received an impertinent reply from the President of the Board of Trade on 3rd November when, against the background of a 50 per cent. increase in the price of this commodity following the report of the Commission, all the right hon. Gentleman could say was that he saw no iniquity in higher profits?

Mr. Erroll

We do not think that legislation would be the right way to achieve the object which the hon. Lady has in mind.

Miss Lee

Will the Minister try to help the House in this respect? Does he deny that British Oxygen was publicly condemned for profiteering, that in the two years following that condemnation prices went up by 50 per cent., that the Government rejected both the minority and majority reports of the Commission, and has nothing to say in defence of the consumer?

Mr. Erroll

Yes, Sir. Satisfactory arrangements were informally agreed with the British Oxygen Company. I think the hon. Lady has another question on the Order Paper about profits.

Mr. Fletcher-Cooke

If there is any question of fresh legislation on this subject, would my hon. Friend consider taking powers to advise monopolies on their position, because so far, provided a monopoly is found, there is very little that the Board of Trade can do about it?

Mr. Erroll

There are remedies under Section 10 of the 1948 Act