§ Mr. Lewisasked the Chancellor of the Exchequer whether he will request the Committee on Wages and Prices to 43W inquire into the reasons why, after eight consecutive months of a fall in the index of raw material prices, whereby the index is now 10 per cent. below that of last April, these reduced prices have not been passed on to the general public by means of lower-priced manufactured goods.
Mr. AmoryThe Council is at liberty, within its terms of reference, to inquire into the inter-relationship of all wage and price movements.
§ Mr. Lewisasked the Chancellor of the Exchequer whether he is aware that since April of last year the index of raw materials used by manufacturers has fallen by more than 10 per cent.; and what action he proposes to take to ensure that the reduced costs of these basic materials, used in the manufacture of various articles, are passed on to the public by reduced prices in the retail shops.
Mr. AmoryIn so far as the fall in the cost of raw materials is not offset by increases in other costs, I expect them to result in lower retail prices without the need for any specific action on my part.