§ Q4. Mr. Rostasked the Prime Minister which of Her Majesty's Ministers is responsible for policies to curb inflation.
§ The Prime MinisterAll members of the Government are responsible for carrying out our policies to curb inflation.
§ Mr. RostWill the Prime Minister tell us which of his Ministers he believes is making the most progress? Is it the Secretary of State for Industry, with his massive, expensive and irrelevant programme for nationalisation? Is it the Secretary of State for Employment, with his mythical social contract? Or is it the Chancellor of the Exchequer, whose efforts are turning stagflation into slumpflation?
§ The Prime MinisterI thought that was very good, and made up for the great frustration the hon. Gentleman showed when he was not called yesterday.
I do not keep a league table in these matters. I recall that last April the important thing was not the performance of any individual but the fact that Liverpool won the Cup.
§ Mr. Arthur LewisHas the Prime Minister's attention been drawn to the fact that the City financiers, the bankers, all the Press and their other supporters, particularly on the Opposition side, have long been complaining of the allegedly high increases given to the low-paid workers of this country? Will he consider the fact that the City of London, with the smallest geographical area and the lowest number of residents, is paying 1240 its chief executive officers £2,000 to £3,000 a year extra—no one can ascertain the exact amount? Which Minister would look into this grossly inflationary payment?
§ The Prime MinisterNow that my hon. Friend has brought this matter to my attention I shall certainly look into it. I find it rather more revealing, particularly after some of the statistical quibbles that we have had from right hon. Gentleman opposite in recent weeks, to see that the report of the Price Commission, which they set up and which operates under rules that they laid down, points out that whereas in the last three months of the Conservative Government their index, based on prenotification of price increases, showed an annual rate of interest of 23 per cent., in the three months to August that rate has been cut to 9½ per cent.
§ Mr. MartenIn order to cut down the element of inflation which is attributable to sugar, will the Prime Minister dispatch the Secretary of State for Trade to Australia—he did very well when he went there recently—and get him to do a deal with the Australians for 300,000 tons of sugar, which will also help employment in the sugar refining industry in this country?
§ The Prime MinisterI agree that my right hon. Friend did extremely well on his trade mission to both Australia and New Zealand recently. I understand that some questions on sugar have been answered this afternoon. The hon. Gentleman, none better, will know how much of the problems—not all of it, with the present world shortage—arises from the totally inadequate and humiliating terms of the Lancaster House conference and the aura à Coeur and the total failure to put it in the protocol. I am sure that he will understand that. [Interruption.] I agree that it was not an agreement. It was claimed to be. I am talking about the sugar situation resulting from the 1971 terms, which were a disgrace to this country and have caused the utmost problems for the Commonwealth which is now seeking other solutions. On the detailed question and the hon. Gentleman's concern, we have every intention of getting all the sugar that we can from Australia, either through Community arrangements or direct.