§ Mr. Wigley
asked the Secretary of State for Prices and Consumer Protection 626W what provision is made in the Price Code to allow companies operating in development areas to recoup the final effect of the loss of regional employment premium.
§ Mr. Maclennan
In response to representations from industry last year, the present Price Code provides that the regional employment premium should be left out of account in Price Code calculations. Accordingly the loss of REP has no effect on permitted price levels under the code. However, the new investigatory powers which are proposed in the Price Commission Bill will enable the Price Commission to take into account all matters which appear to it to be relevant when considering pricing proposals or decisions.