§ 19. Mr. Dribergasked the First Secretary of State and Secretary of State for Economic Affairs what steps he proposes to take to redress the unequal and inequitable impact of the incomes standstill on shareholders and on wage-earners since the former will be able to collect accumulated arrears of dividends after the standstill is over, while the latter will never receive the extra wages that they might have been paid during this period.
§ Mr. AlbuThe Government have called for all company distributions, including dividends, not to be increased during the next twelve-month period. They will not hesitate to use their fiscal and other powers to ensure that distributions after the standstill are not increased so as to make good any increases foregone as a result of the standstill.
§ Mr. DribergThat answer is very encouraging so far as it goes, but can my hon. Friend say whether the Government will have the power to do that after the standstill is over?
§ Mr. AlbuYes. There is no doubt that the Government will have ample powers, certainly ample fiscal powers to deal with this matter. The Government are relying on industry to collaborate in this present situation by observing the standstill in the spirit as well as the letter.
§ Dame Irene WardCould the Minister of State arrange, in the midst of these very important matters, that people holding undated War Loan do not have to suffer further depreviation?