§ 50. Mr. Grimondasked the Minister of Labour how far earnings and wage-rates in the engineering industry have kept pace over the last two years with increases in production and distributed profits.
§ Sir W. MoncktonOnly very broad comparisons are possible and one should hesitate to draw any very precise conclusions from such comparisons: The available information suggests that whereas the average earnings of adult males on the one hand and distributed profits (that is, interest or dividends on debentures, preference or ordinary shares) on the260W other in the engineering and related industries showed, in the period in question, approximately the same percentage increases, the volume of production showed a substantially smaller percentage increase.
§ 51. Mr. Grimondasked the Minister of Labour which categories and grades within the engineering industry are worse off as regards earnings and wage-rates, respectively, since 1951, taking into account changes in the cost of living.
§ Sir W. MoncktonThe varying dates to which the available information relates, as well as other factors, make a strict comparison extremely difficult, but so far as I can judge from an examination of the figures the answer to the hon. Member's question is "None."