Prices and Incomes Policy

HC Deb 07 March 1966 vol 725 cc429-30W

Mr. Arthur Lewis

asked the First Secretary of State and Secretary of State for Economic Affairs what action he has taken to ensure that incomes received from dividends, rents, and directors' fees do not rise above the Government's 3½ per cent. norm; and with what result.

Mr. Albu

The White Paper on Prices and Incomes Policy sets out the considerations which should be taken into account by all concerned in determining prices and charges, wages and salaries, and other forms of income. It also states that the facts about the movement of the main categories of income will be assessed in the course of the periodic reviews of productivity, prices and incomes made by the National Economic Development Council.

Sir E. Brown

asked the First Secretary of State and Secretary of State for Economic Affairs if he proposes to refer all rate increases in excess of the 3½ per cent norm to the National Board for Prices and Incomes.

Mr. Albu

I would refer the hon. Member to the Answer my right hon. Friend gave to the hon. Member for Harborough (Mr. Farr) on 25th November, 1965.