HC Deb 19 March 1959 vol 602 cc619-21
34. Mr. H. Wilson

asked the Chancellor of the Exchequer by what percentage the latest figure for the index of industrial production differs from the figure for May, 1955.

Mr. Erroll

The unadjusted index of industrial production for December, 1958, is about the same as the index for May, 1955, but after adjustment for seasonal factors the index for December, 1958, is about 2 per cent. higher than in May, 1955.

Mr. Wilson

Is it not a very pathetic performance that, even after the hon. Gentleman has finished cooking all his figures, all he can show is an increase—

Mr. Nabarro

On a point of order, Mr. Speaker. Is it in order for the right hon. Gentleman to accuse my hon. Friend, in such opprobrious terms, of cooking figures? Does that not suggest to you, Sir, that an imputation is being made that figures are being falsified? Would that not be entirely unparliamentary?

Mr. Speaker

It certainly would be to suggest that. But I have heard the term "cooking" used in a variety of respects. An answer was given about the adjustment of the figures. I think the right hon. Gentleman ought to make it clear that he is not accusing anyone of falsifying the figures.

Mr. Wilson

Yes, Sir. Even after a convenient alteration in the basis of the index in September, 1958, in a way which favours the presentation of the Government's case, will the hon. Gentleman not agree that it is a rather poor performance that, four years after an election at which we were promised every form of economic expansion, doubling the standard of living and all the rest of it, the industrial production of this country, almost alone among advanced industrial countries, shows virtually no increase over the figure four years ago?

Mr. Erroll

I do not accept the imputation made by the right hon. Gentleman regarding the so-called cooking of the figures, nor do I accept the imputation about the adjustment made last year, which is perfectly in accordance with what it is proper to do. As regards production in this country, I should not have thought that the production of over I million motor cars in 1958, nor exports of aircraft amounting to almost £100 million, were indicative of the stagnant economy to which the right hon. Gentleman so frequently refers.

Mr. Wilson

But is not the hon. Gentleman aware also of the significant fall in steel production compared with a year or two ago, if he wants to select individual industries? Without selecting industries, how does he justify to this House or to the country a record of stewardship which means that industrial production in this country almost alone in the world has hardly increased over four years ago?

Mr. Erroll

There has, of course, been an increase in service industries and activities and in production which is usefully required. To increase production at a time of a pause in world economic expansion would lead only to a balance of payments crisis and inflation at home.