§ Mr. Trotterasked the Secretary of State for Prices and Consumer Protection whether the Prices Commission applies to professional firms when preventing them (a) from passing on to their clients the 27W whole of their increased labour costs resulting from wage and salary increases and (b) from increasing their profits to allow for the falling value of the pound; and, if so, what effect this is intended to have on the real income of their owners.
§ Mr. MaclennanThe criteria applied to professional firms by the Price Commission are set out in paragraphs 123–126 of the Counter-Inflation (Price Code) Order 1971 (S.I. 1974 No. 2113). Like others subject to the code, those offering professional services are expected to absorb a percentage of increases in labour costs.