§ 3. Mr. J. R. H. Hutchisonasked the Chancellor of the Exchequer what fall took place in the purchasing power of wage rates between June, 1947, and October, 1951, taking the index of wage rates and the Index of Retail Prices; and, using the same indices, what rise took place between October, 1951, and the latest convenient date in 1955.
§ Mr. MaudlingBetween June, 1947, and October, 1951, the index of wage rates rose by 22 per cent. and the Index of Retail Prices by 29 per cent.; real wage rates, therefore, fell by 5½ per cent. Between October, 1951, and February, 1955, wage rates rose by 20 per cent. and retail prices by 13 per cent.; real wage rates, therefore, rose by 6 per cent.