§ 14. Sir Waldron Smithers
asked the Minister of Labour the increase in wages since 1st January, 1948, giving details of the industries mainly affected; what was the total rise; and to what extent does this rise compare with the rise in the cost of living.
§ Sir W. Monckton
Between 31st December, 1947, and 31st December, 1951, the index number measuring the movement in weekly full-time rates of wages of wage-earners rose from 103 to 126. Between 16th December, 1947, and 11th December, 1951, the interim index of retail prices rose from 104 to 130. The remaining information asked for, so far as it is available, will take some time to extract, and I will send it to my hon. Friend when it is ready.
§ Sir W. Smithers
In view of the fact that so many of our people are financially and economically uninstructed will my right hon. and learned Friend issue an authoritative statement to the effect that an increase in wages without increased production does no good to the recipient or to the country, and in those conditions the recipients are only being paid in pieces of paper which one cannot eat or wear and which are going down and down in purchasing value every day?