Nationalised Industry Prices

Part of Oral Answers to Questions — Prices and Consumer Protection – in the House of Commons at 12:00 am on 11th October 1976.

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Photo of Mr Robert Maclennan Mr Robert Maclennan Parliamentary Under-Secretary (Department of Prices and Consumer Protection) 12:00 am, 11th October 1976

The large deficits which the nationalised industries faced were due to the Conservative Government's regressive subsidisation of the industries and their refusal to permit them to price commercially or even to move in that direction, as the hon. Gentleman ought to know. The difficulties which have been faced as a result of price increases in the past year are largely due to the phasing out of the deficits.