18. Mr. Edward M. Taylorasked the Secretary of State for Employment and Productivity by what percentage the prices of nationalised industries have increased since October, 1964; and what is the comparable percentage rise in the prices of household goods.
§ The Under-Secretary of State for Employment and Productivity (Mr. Roy Hattersley)The percentage rise between 13th October 1964 and 21st May, 1968, in the average level of retail prices of goods and services provided by the nationalised industries and included in the Index of Retail Prices was 18.9 per cent. The comparable rise for the durable household goods group of the Index was 10.1 per cent.
Mr. TaylorDo not those staggering figures show that the nationalised industries, as at present organised, are driving a horse and cart through the prices policy? In those circumstances, will not the Minister make it a point to ensure that he appoints the best possible management to nationalised industries by paying people the right salaries, in line with those paid by many successful private firms such as Hambro's Bank?
§ Mr. HattersleyThe payment of the top management of nationalised industries is a matter which must be raised with the appropriate Ministers. The hon. Member claims that a horse and cart are being driven through the incomes policy, but I am sure that he will recall that the Prime Minister has given an assurance that all major increases in public sector prices will be referred to the National Board for Prices and Incomes.