HC Deb 04 July 1975 vol 894 c593W
Mr. Teddy Taylor

asked the Chancellor of the Exchequer why he has introduced a statutory provision to limit dividend rises to 10 per cent. in advance of agreement on or control of wage rises.

Mr. Dell

The Government have announced their determination to bring down the rate of domestic inflation to 10 per cent. by the end of the next pay round, and this means that the increases in pay cannot exceed 10 per cent. In the Government's view there can be no question of the rate of permitted dividend increase exceeding the limit for pay.