§ Mr. Arthur Lewisasked the Chancellor of the Exchequer (1) what is his estimate of the effect on the general standard of living in the next 12 to 18 months, taking into account the limitation of wage increases to 3½ per cent., increased rents, rates, fares and food prices, increased prices resulting from changes in the rates of Selective Employment Tax, fuel tax, road tax and Purchase Tax, and other increased prices resulting from measures taken in the Budget and following devaluation;
(2) what effect those current and proposed increases in the prices of food, rents, rates, fares, purchase and petrol tax and road licences, which arise out of devaluation and the Budget proposals, will have on the real incomes of retirement pensioners, sick, disabled and unemployed who have controlled or limited incomes; and whether he will make a statement.
§ Mr. DiamondI would refer my hon. Friend to the Financial Statement. For reasons clearly outlined in paragraph 8 of Part III, real personal incomes may fall a little on average in the coming months. The particular groups mentioned in the second question, who received substantial increases in benefits payable from October of last year, will be among the least affected.