COST OF LIVING

Waikato Times, Volume 125, Issue 20992, 20 December 1939, Page 9

COST OF LIVING

CHECKING OF PROFITEERING REGULATION IN BRITAIN BOARD OF TRADE ORDERS (United Press Assn.—Elec. Tel. Copyright) LONDON, Dec. 19 In order to check profiteering, the Board of trade is publishing pre-war prices of essential commodities so that consumers who find current prices excessive can ask the Price Regulation Committees to investigate. The board today made its first order under Section 2 of the Prices of Goods Act, which was passed last session, says a British official wireless message. The order will come into effect on January 1. The order includes goods mainly an necessarily used by a large section of the population the retail prices of which must be limited to those prevailing on August 21. Where price increases represent an actual rise in costs and expenses, the list will be modified and extended when necessary. It is probable, therefore, that further orders will be made from time to time.

Alleged “ Vicious Spirit ” The main objective of the order is to check the so-called “vicious spirit” caused by continuously rising prices followed by a consequent rise in wages, in turn followed by further price rises and so on. Sooner or later this results in inflation. Luxury and more expensive lines of goods are not included in the list. Boot and shoe operatives are to receive an increase of 3s a week for men and 2s for women for every 10 point rise in the cost of living.