CONTROL OF PRICES

Gisborne Herald, Volume LXVI, Issue 20068, 14 October 1939, Page 3

CONTROL OF PRICES

MEASURE IN BRITAIN BAN ON PROFITEERING HIGHER COSTS ALLOWED (Klee. Tel. Copyright—United Press Assn.) ! (British Official Wiri-less.) Reed. 12 noon RUGBY. Oct. 13.! The object of the Prices of Goods Bill, the text, of which has just been ■ issued, is to prevent more than a justifiable increase in the war-time price of such goods as normally form part of household supplies. The bill was drafted after consul- j tation with trades organisations and \ is aimed at a small minority of traders who might bo tempted to tak,o j advantage of war-time conditions, and i must not be confused with excess profits arising from larger turnover. These latter have been dealt with toy other legislation. The principle on which the bill : proceeds is the fixing of a basic price j which is, in general, taken to be that, at which the goods concerned were • sold in ordinary business on August j 1, 1939. To this figure is added in-j creased costs of manufacture and dis-H tribution. and such other costs as may j prove to be justified. ! Machinery is set up by which rep-J resentations may be made to the Board i] of Trade by trade organisations, and j the board may, after consulting then Central Price Regulation Committee,; issue an order specifying prices for! classes of goods. The bill, which does not apply tojj auction sales or export, provides j severe penalties for infringements, j