HC Deb 24 November 1977 vol 939 cc816-7W
Mr. Arthur Lewis

asked the Secretary of State for Prices and Consumer Protection whether he will publish in the Official Report a detailed list of price increases announced or applied for since the announcement of the Government's 10 per cent. wage policy; and how much he estimates this will increase the cost of living.

Mr. Maclennan

My right hon. Friend does not receive details of such increases. Under the prices legislation, certain firms must notify to the Price Commission details of proposed price increases, and I am asking the chairman to write to my hon. Friend on this point. It is not possible to say what the effect of the limited range of notifications will be on the cost of living, but the retail price index has risen by only 1.4 per cent. in the three months to October, confirming the downward trend in the rate of inflation.

Mr. Arthur Lewis

asked the Secretary of State for Prices and Consumer Protection if he will seek powers to ensure that during the Government's 10 per cent. wage maximum no price increase will be permitted above 10 per cent.

Mr. Maclennan

We are on course towards getting inflation into single figures. My right hon. Friend is not prepared to put jobs at risk by preventing firms from recouping unavoidable cost increases where these occur. The use of the powers contained in the Price Commission Act 1977 is a more effective and equitable way of dealing with prices than would be the adoption of my hon. Friend's suggestion.