§ Mr. Pavittasked the Secretary of State for Trade and Industry if the 17½ per cent. increase in the cost of laboratory service fittings as shown in the information sent to him by the hon. Member for Willesden, West conforms with his counter-inflation policy; and if not, whether he will take action.
§ Sir G. HoweThe actual price increase has been from list price plus 12½ per cent. to list price plus 17½ per cent., an increase of about 4½ per cent.
Because of recent very sharp rises in world copper prices the Department has agreed that members of the National Brassfoundry Association and of the Copper Tube Fittings Association who manufacture certain specified goods in which the cost of copper and copper alloys represents a high proportion of total cost of manufacture may pass on to their customers in the form of price increases 50 per cent. of the increased costs since 6th November of copper and copper alloys used in the manufacture of those goods. The White Paper on the first stage of the programme for controlling inflation (Cmnd. 5125) envisaged price increases of this nature.
I am satisfied that the price increase referred to by the hon. Member is within the limits agreed by my Department.