§ 11. Mr. Warbeyasked the Chancellor of the Exchequer what is his policy for 22W bringing personal incomes derived from interst payments into a more realistic relationship with increases in national production.
§ Mr. BrookeThe rate of interest at any given time is the product of the various forces operating in the markets for capital, and incomes derived from interest payments generally reflect past rates of interest even more than current rates. If the movements in total wages and salaries, profits and dividends can be kept in due relationship with the growth of production, the success of the Government's incomes policy is unlikely to be jeopardised by variations in the amount of interest payments.