Voluntary Ceiling Urged On Goods Not Controlled

Chronicle (Levin), 13 February 1948, Page 5

Voluntary Ceiling Urged On Goods Not Controlled

(N.Z.P.A.-

—Reuter*

Covvright)

Received Friday, 10.10 a.m. LONDON, Feb. 12. The Chancellor of the Exchequer, 3ir Stafford Cripps, in the House of Commons debate on the Government's wag.es policy, said "We cannot disregai'd the accumulation and distrioution of large profits at a time when-we are asking sectiqns of the community to exercise restraint, over personal incomes." Sir Stafford said that all experience showed difficulty in equitably adjusting personal incomes, in the face of the general and continuing price rises. If British . prices riightened off foreign buyers, Britain would not be able to buy the necessary food and raw materials and the people would suffer unemproyment and hardship. The prime safeguards were more production and lower costs. Cohtrols of siib-j sidies, which were costing 14 shillings per family weekly, prevented! uncontrolled inflation. I Stressing the need of increasedl production Sir Stafford said: "Wej haven't yet nearly enougn exportsj eo pay for the present level of im-j ports." ,He stated that at his re-' quest, the Federation of British Industries had promised to do its utmosr to evolve a plan for price piofit decreases. Sir Stafford Cripps added that he wanted to see a voluntary ceiling on all prices of goods not under price control. The statement on -profits in industry follows talks yesterday between Cabinet Ministers and T.U.C. leaders. Many trade unionists had previously expressed uneasihess oecause they felt the Government was paying more attention- to wages than profits. Mr. Attlee, Sir Stafford Cripps, Mr. Ernest Bevin, Mr. Herbert Morrison and Mr. Isaacs attended the meeting which was held in an •'cxcellent atmosphere." The Min--scers gave a full explanation of Government policy.