HC Deb 02 April 1963 vol 675 cc234-5
34. Sir C. Osborne

asked the Chancellor of the Exchequer, in view of the fact that the Index of Retail Prices rose by 2½ per cent. in 1962 against 4½ per cent., 2½ per cent. and nil in the three preceding years, to what extent it is the policy of Her Majesty's Government to accept some degree of inflation as inevitable; what new steps are to be taken to control it; and if he will make a statement.

Mr. Barber

I would ask my hon. Friend to await my right hon. Friend's Budget statement tomorrow.

Sir C. Osborne

Is there any real hope—[HON. MEMBERS: "No."]—that the real savings of the most responsible section of our people will be safeguarded against further inflation?

Mr. Barber

The Question on the Order Paper raises major issues of economic and financial policy. My hon. Friend is a patient and understanding man and will hardly expect me to satisfy his request for a statement at this time.