§ Mrs. Renée Shortasked the Chancellor of the Exchequer if he will undertake an immediate review of the proposals for decimal currency in view of the effect on the cost of living of the proposed increases in London underground fares.
§ Mr. William RodgersGuidance on the approach to be adopted to the decimalisation of prices and tariffs in both the public and the private sector has been published by the Government and by the Decimal Currency Board. The Government have on several occasions made it clear that decimalisation need not of itself lead to any overall increase in price levels, and it would be totally inconsistent with Government policy for those responsible for making decisions on decimal prices to seek to take advantage of the changeover in this way.
As my right hon. Friend the Minister of Transport has already stated, the fares structure of London Transport bus and rail service is no longer a direct Government responsibility; it is primarily a matter for the London Transport Executive itself, subject to the approval of the Greater London Council. The Government, therefore, expect the Executive and 67W the Council to subject their intentions to close examination in the light of the Government's policy; but they reserve the right to arrange as necessary for further scrutiny of, and appropriate action on, any proposals which may be made by the Executive.
The date of the change-over to decimal currency, and the system to be adopted have been fixed by law.