HC Deb 10 March 1982 vol 19 cc409-10W
Mr. Arthur Lewis

asked the Prime Minister whether, in view of the fact that almost every private and public or nationalised industry has for some time been increasing prices to the consumer and end user on the grounds of excessive increases in oil prices, and that when the price of oil and energy falls, reductions rarely take place, she will cause an investigation to be made to ascertain why this is happening, in view of the inflationary effect of such practices.

The Prime Minister

No. As my right hon. and learned Friend the Chancellor of the Exchequer confirmed to the House yesterday, the recent fall in oil prices is good news both for Britain and for the world. I hope that the consequent reduction in costs will contribute to further falls in inflation and especially to a slowing down of the rate of price increases in the sectors to which the hon. Gentleman refers.