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 Roy Hattersley Mr Roy Hattersley , Birmingham Sparkbrook 12:00 am, 11th October 1976

My hon. Friend the Under-Secretary is talking to the television rental companies this week, and I hope to make an announcement towards the end of this week or at the beginning of next week. I agree about how cooperative the trade unions are in responding to what we think to be the needs of the nation.

My hon. Friend made a wider point about the extent to which prices policy should cut into this matter. The present policy is only at its beginning. This evening I shall commend to the House the new Price Code, which has hardly begun. What follows is determined by a number of factors, including the progress of the economy and the response of private companies when it is put to them that they need to make a voluntary gesture in limiting their own profits and meeting the needs of the consumer.