§ 24. Mr. Rankinasked the Chancellor of the Exchequer whether he will take legislative steps to ensure that increases in dividends do not exceed the average level of increments on salaries and wages.
§ Mr. BrookeNo, Sir.
§ Mr. RankinMay I assume from that Answer that the right hon. Gentleman is satisfied with a policy as outlined in his White Paper, namely, a policy of restraint on increases in the incomes of those engaged in the public service and in industry while he continues to make fruitless appeals to the dividend hunter? Is that what he calls a policy of equality of restraint? Will not he think of something more fair?
§ Mr. BrookeThe object of the Government's policy is to secure the maximum growth in exports and in the economy as a whole. In the past year wages and salaries have increased by 7½ per cent. and profits, out of which dividends are paid, have decreased by 5½ per cent.