§ Mr. Arthur Lewis
asked the Chancellor of the Exchequer whether he is aware that an average wage earner is now finding the spending value of his income is being eroded by 1s. 4d. in the £ sterling per annum and that of the 10 per cent. increase some 8 per cent. would be offset by the rise in cost of living and that allowing for tax adjustments, etc., he only has a 2 per cent. increase in his actual disposable income; and whether he will therefore increase the Government's 10 per cent. norm of wage increases or take some action to ensure that prices are reduced.
§ Mr. Higgins
The Government has set no norm for pay increases; our aim is a progressive de-escalation in the level of settlements together with an increase in real earnings.