HC Deb 31 July 1958 vol 592 cc164-5W
64. Mr. Ellis Smith

asked the Chancellor of the Exchequer what action he is taking to ensure that the cost of living and the cost of raw materials are reduced in relation to the reduced world prices and the reduced cost of imported raw materials.

Mr. Maudling

In so far as the fall in the cost of raw materials is not offset by increases in other costs, my right hon. Friend expects them to result in lower prices without specific action on his part. Indeed the reductions in world prices are already reflected in many wholesale prices and in some retail prices.