§ 36. Mr. Strangasked the Chancellor of the Exchequer if he will make a further statement on the Government's policy towards prices and incomes in the light of the discussions which are taking place with representatives of the Trades Union Congress.
§ Mr. NottThe Government have consistently emphasised the need to bring the rate of cost and price inflation under control. We have made progress in reducing the rate at which prices are rising, both through Government action and through the CBI's voluntary price restraint which we have encouraged the nationalised industries to support and which has recently been extended. In the series of tripartite talks under the Chairmanship of my right hon. Friend the Prime Minister we are continuing our efforts to ensure that we achieve a steady rise in real earnings and work out sensible arrangements to combat inflation on a voluntary basis. The talks began on 18th July but the TUC has said that in the present situation it cannot attend the second meeting which had been arranged for today. I understand that low pay, prices and thresholds were to have been discussed at this meeting. It is the Government's hope that talks on these important subjects will be resumed.