Oral Answers to Questions — Economic Affairs – in the House of Commons at 12:00 am on 3 December 1964.
Mr Richard Glyn
, North Dorset
12:00,
3 December 1964
asked the First Secretary of State and Secretary of State for Economic Affairs what steps Her Majesty's Government are taking to reduce the risk of inflation; if he will define the meaning of the term inflation in the context of his reply; and if he will make a statement.
Mr Maurice Foley
, West Bromwich
My right hon. Friend the Chancellor of the exchequer made it clear in his Budget statement on 11th November that in framing his proposals he had taken account of the need to prevent the pressure of demand from becoming excessive At the same time, we attach the greatest importance to the early achievement of an effective policy for incomes and prices. The hon. Gentleman will find an admirable exposition of the two main kinds of inflation in a report, "The Problem of Rising Prices", published by the O.E.C.D. in 1961.
Mr Richard Glyn
, North Dorset
Is the Minister aware that several of the Chancellor's recent measures are inflationary, by any definition of the term, and calculated to cause hardship to that very large proportion of our people who live on fixed incomes or who earn comparatively low wages, like many of my constituents in North Dorset, whose incomes are, in fact, lower than the relevant figures authorised by the National Assistance Board? Will he agree that his right hon. Friend will not be able to control inflation until he makes up his mind what it means, and will he look at this again as a matter of urgency, in the interests of the whole nation and, particularly, in the interests of the less fortunate members of it?
Mr Maurice Foley
, West Bromwich
Hon. Members, certainly those on this side, are deeply concerned with the problems of poverty in many parts of the country and with the low earnings of many workers. This is a matter of deep concern and, as distinct from the previous Administration, we intend to deal with it, in the first instance, through our regional plans, co-ordinated with a national plan. Secondly, we have the will and urgent intent to do something about these problems—
Mr Maurice Foley
, West Bromwich
My right hon. Friend the Chancellor has already stated that the increase in the duty on oil and petrol is likely to raise the retail price index figure by no more than one—fifth of a point immediately. Hon. Members opposite must make up their minds about the National Insurance contributions. If they want an increase in pensions the increase must be paid for. If they agree, they should say so. The import surcharge was necessary because of the serious balance of payments position that we inherited from the Tory Administration.
Secretary of State was originally the title given to the two officials who conducted the Royal Correspondence under Elizabeth I. Now it is the title held by some of the more important Government Ministers, for example the Secretary of State for Foreign Affairs.
The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.
The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.
The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.
The Chancellor - also known as "Chancellor of the Exchequer" is responsible as a Minister for the treasury, and for the country's economy. For Example, the Chancellor set taxes and tax rates. The Chancellor is the only MP allowed to drink Alcohol in the House of Commons; s/he is permitted an alcoholic drink while delivering the budget.
Ministers make up the Government and almost all are members of the House of Lords or the House of Commons. There are three main types of Minister. Departmental Ministers are in charge of Government Departments. The Government is divided into different Departments which have responsibilities for different areas. For example the Treasury is in charge of Government spending. Departmental Ministers in the Cabinet are generally called 'Secretary of State' but some have special titles such as Chancellor of the Exchequer. Ministers of State and Junior Ministers assist the ministers in charge of the department. They normally have responsibility for a particular area within the department and are sometimes given a title that reflects this - for example Minister of Transport.
The political party system in the English-speaking world evolved in the 17th century, during the fight over the ascension of James the Second to the Throne. James was a Catholic and a Stuart. Those who argued for Parliamentary supremacy were called Whigs, after a Scottish word whiggamore, meaning "horse-driver," applied to Protestant rebels. It was meant as an insult.
They were opposed by Tories, from the Irish word toraidhe (literally, "pursuer," but commonly applied to highwaymen and cow thieves). It was used — obviously derisively — to refer to those who supported the Crown.
By the mid 1700s, the words Tory and Whig were commonly used to describe two political groupings. Tories supported the Church of England, the Crown, and the country gentry, while Whigs supported the rights of religious dissent and the rising industrial bourgeoisie. In the 19th century, Whigs became Liberals; Tories became Conservatives.
Miss Irene Ward
, Tynemouth