§ 55. Sir C. Osborneasked the First Secretary of State and Secretary of State for Economic Affairs, in view of the fact that devaluation of sterling would not provide a way out of economic difficulties, if, in order to avoid it, he will take steps to impose a two year ban on increases in wage, salary, rent, dividend, and all other forms of income so as to get prices down and exports up; and if he will make a statement.
§ Mr. William RodgersThe policy which has been agreed between the Government, management and unions is designed to secure general price stability by relating money incomes to real output. My right hon. Friend is currently considering ways of strengthening the policy, with the co-operation of those concerned. If, however, the voluntary principle fails we shall consider other courses.