§ 21. Mr. Michael Morrisasked the Secretary of State for Prices and Consumer Protection whether he will make a further statement on the television rentals report of the Price Commission.
§ Mr. MaclennanI have nothing to add to the answer which my right hon. Friend gave to my hon. Friend the Member for Chorley (Mr. Rodgers) on 15th October.
§ Mr. MorrisWill the Minister recognise that that is a disappointing reply? Will he take this opportunity to point out that the rental companies are only being socially responsible in maintaining a profitable enterprise which ensures employment, and that by any yardstick a 19.4 per cent. return on capital employed is not excessive when the minimum lending rate is at 15 per cent.?
§ Mr. MaclennanI am grateful to those companies which have agreed to hold their prices until the end of the current phase of prices policy. From the hon. Gentleman's supplementary question, I am not clear whether he would be in favour of prices being frozen across the board.
§ Mr. TebbitDoes the Minister think that it is reasonable to expect companies to make a lower return on investment than the rate of inflation currently being experienced?
§ Mr. MaclennanThe companies themselves have responded reasonably to a reasonable report.
§ Mr. MorrisOn a point of order, Mr. Speaker. In view of the very unsatisfactory nature of that reply, I beg to give notice that I shall seek the earliest possible opportunity of raising the matter on the Adjournment.