Price Code

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 Mr Michael Neubert Mr Michael Neubert , Romford 12:00 am, 12th April 1976

asked the Secretary of State for Prices and Consumer Protection whether she will make a statement on the progress made in her negotiations about the future of the Price Code.

Photo of Mrs Shirley Williams Mrs Shirley Williams , Hertford and Stevenage

Many organisations have made representations, and I am considering the evidence and views put to me in the framework of the Government's economic objectives. I am very willing to receive views from other interested organisations.

Photo of Mr Michael Neubert Mr Michael Neubert , Romford

As it is now clear even to the Government that institutions and individuals will invest in industry only if they can earn a sufficient return on their money, will the right hon. Lady seek to advocate the abolition of the Price Code and of dividend restraint in the interests of higher investment and more jobs?

Photo of Mrs Shirley Williams Mrs Shirley Williams , Hertford and Stevenage

Perhaps conveniently, the hon. Member is forgetting, first, the genesis of the Price Code and, second, the fact that we were the Government who introduced the investment relief. But I make no bones of the fact that higher investment is of great importance, and this is a central factor in our review.