On the basis of the index prepared by the Ministry of Labour, weekly wage rates increased by about 42 per cent. between 1952 and January, 1960, and by about 3½ per cent. between 216 1958 and January, 1960. Information on dividends is not yet complete, but preliminary figures suggest that dividends paid by companies on ordinary shares in 1959 were about 78 per cent. higher than in 1952 and about 12 per cent. Higher than in 1958. These estimates reflect increases in share capital as well as in rates of dividend per share.
The right hon. Gentleman will remember that between 1938 and 1952 it was entirely the other way round. During that period dividends increased by only 30 per cent., whereas wages increased by 100 per cent. Therefore, what has happened since then has about restored the balance.