HC Deb 09 July 1970 vol 803 cc840-1
Q5. Mr. John Fraser

asked the Prime Minister whether he will appoint a Minister with sole responsibility for price restraint.

The Prime Minister

No, Sir.

Mr. Fraser

While we understand that we shall not have instant government, can the Prime Minister say what, after a suitable period of incubation, will be done about price increases in insurance premiums, mortgage rates by the Conservative G.L.C., restaurant meals, coal and food, and other price increases which were restrained by the early notification machinery operated by the previous Government?

The Prime Minister

Such a question does not come well from a member of a party which has presided over the biggest inflation in 20 years, the legacy of which we have inherited in the way that the hon. Gentleman has described.

Mr. Harold Wilson

If the right hon. Gentleman refuses to answer questions about the G.L.C. and the rest, will he at least answer this one? In view of the statement made by the Chancellor of the Exchequer, whom we all wish a speedy recovery, that the Government intend to scrutinise rigorously applications for price increases in the public sector, will the Prime Minister say whether this rigorous scrutiny will be carried out by the National Board for Prices and Incomes or by Government Departments? If it is to be by Government Departments, will he say which Departments will be responsible and what he plans for parallel action about price increases in the private sector?

The Prime Minister

One price increase is already under review by the National Board for Prices and Incomes. As for the remainder, the scrutiny will be carried out by the Government Departments concerned.

Mr. Wilson

I am sorry, but the right hon. Gentleman did not answer the rest of my question. What action does he propose about price increases in the private sector?

The Prime Minister

That is already governed by questions of competition—[HON. MEMBERS: "Oh."] That has already proved to be far more effective than any measures which right hon. Gentlemen opposite could devise when they were in power.