§ Mr. Michael McGuireasked the Secretary of State for Prices and Consumer Protection what control is exercised by the Price Commission over the selling price of imported finished products such as shirts, suits and footwear, in cases where these products are obtained by retailers from foreign manufacturers at prices much lower than similar United Kingdom products.
§ Mr. Maclennan:At retail level, the Price Code limits margins over a firms business as a whole but does not determine the selling price of individual products. The permissible gross percentage 232W margin is calculated by reference to the value of sales in a period, and the actual cost of all the goods sold in that period, regardless of the origin of particular elements in the stock.