§ Q2. Mr. Duffyasked the Prime Minister if the public speech by the Chancellor of the Exchequer at a luncheon of the Association of British Chambers of Commerce in London on 23rd June on the economy represents the policy of Her Majesty's Government.
§ The Prime MinisterYes, Sir.
§ Mr. DuffyDoes not the Prime Minister agree that, unlike then, the Chancellor of the Exchequer now has substantial grounds for introducing a modest package of reflationary measures, and that all the up-to-date information in his possession confirms the picture of stagnation in current expenditure and investment? Will the right hon. Gentleman agree, therefore, that there is an overwhelming need for a stimulus to the national economy within a matter of weeks and not months?
§ The Prime MinisterMy right hon. Friend the Chancellor of the Exchequer has told the House that he is reviewing the forecast and that he will give the House his views in due course. I ask the hon. Gentleman to await them.
§ Mr. Arthur LewisAs, on that occasion, the Chancellor of the Exchequer made no statement about how and when the Government intended to cut the rise in prices "at a stroke", can the Prime Minister tell us when it will happen? It is now more than 12 months since the right hon. Gentleman made that statement or caused it to be issued from the Tory Central Office.
§ The Prime MinisterIf the hon. Gentleman had been present in the House and 713 listened to the debates, he would have known that the action of the Government, including halving S.E.T. and limiting nationalised industries' prices, has carried out that policy.