§ 11. Mr. Archerasked the First Secretary of State and Secretary of State for Economic Affairs whether he is aware that, on the day following the 1857 Government's appeal for a six months' standstill on increase in income, the boards of two companies recommended increases in their dividends; and whether he will seek powers to discourage further increases in dividends.
§ Mr. AlbuIt was made clear on 20th July that the Government's call for a standstill on prices and incomes was expected to apply to dividends for the twelve-month period. This has been further stressed in paragraph 31 of the White Paper (Cmnd. 3073). If my hon. Friend will send me particulars of the cases he has in mind, I will have them examined.
§ Mr. ArcherWhile thanking my hon. Friend for that reply, may I ask him if he is in a position to assure the House that increases in dividends will be discouraged as vigorously as increases in other forms of income?
§ Mr. AlbuMost certainly. My hon. Friend will probably have noticed that there have been one or two cases where dividend increases already announced have been withdrawn by the companies concerned who have decided not to make them during this twelve-month period.
§ Mr. CorfieldWill the right hon. Gentleman apply those same criteria to the prices and products of the nationalised industries, increases in some of which have been announced since 20th July?
§ Mr. AlbuThe procedure applies to the prices of nationalised industries just as much as to other prices.