§ Mr. A. Lewis
asked the Chancellor of the Exchequer whether he is aware that, notwithstanding his present policy in regard to wages, the £ sterling is now worth 1s. ld. less in purchasing power than a year ago; and whether he will now amend his 2½ per cent. suggested wage increase maximum to 5 per cent.
§ Mr. Brooke
This would simply perpetuate the inflationary spiral which it is the purpose of the Government's incomes policy to stop. The only sound basis for an increase in the general level of incomes is a sustained rise in the rate of growth of national production.