§ 11.50 p.m.
§ The Parliamentary Secretary to the Board of Trade (Mr. David Price)
I beg to move,That an humble Address be presented to Her Majesty, praying that the Statistics of Trade Act, 1947 (Amendment of Schedule) Order, 1963, be made in the form of the draft laid before this House on 3rd July.The object is to extend somewhat further the range of statistics collected under the Statistics of Trade Act, 1947. Broadly, this brings in under the Act figures relating particularly to movements of the capital market. This follows the recommendation of the Radcliffe Report, which devoted a whole chapter to statistics. The Government undertook to look at this. We have been able on a voluntary basis to cover many of the statistics which are necessary to widen our range of statistical coverage and which Radcliffe suggested we should do.
But there comes a point when it is proper to have a statutory basis and, in addition, we have taken the opportunity to include information about the movement of prices. This may surprise the House. It was, by an oversight, left out 1226 of the Schedule of the 1947 Act. We have published for years indices of prices but that has been done on a voluntary basis, and we have taken this opportunity to give the statutory sanction with which to fortify the work of the voluntary system.
§ 11.51 p.m.
§ Mr. G. R. Mitchison (Kettering)
I rise only to say that on this side of the House we always welcome any more light thrown on financial matters and hope against hope that it will not disclose too many terrible things.
§ Question put and agreed to.
That an humble Address be presented to Her Majesty, praying that the Statistics of Trade Act, 1947 (Amendment of Schedule) Order, 1963, be made in the form of the draft laid before this House on 3rd July.
§ To be presented by Privy Councillors or Members of Her Majesty's Household.