Retail Prices

Part of Oral Answers to Questions — Prices and Consumer Protection – in the House of Commons at 12:00 am on 12th April 1976.

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Photo of Mrs Shirley Williams Mrs Shirley Williams , Hertford and Stevenage 12:00 am, 12th April 1976

I toyed with the idea of being "Paymistress-General" but thought that it might be misunderstood.

I was arguing with the hon. Member for Maldon (Mr. Wakeham) that inflation in Britain, while we have never denied that it has been very acute, has not been uniquely British but part of a world problem in which our figures have been bad—we have never denied that. The Government are confident that there will be a further fall in the rate of inflation over the next few months. I cannot go beyond that because, as the hon. Lady will appreciate, none of us knows what the effect of commodity prices will be on the world upturn. I do not deny, either, that the decline in the value of the pound in recent months will rather slow down the achievement of the target.