§ 7. Mr. Lipton
asked the President of the Board of Trade if he will introduce legislation to abolish price-fixing agreements.
§ Mr. J. Rodgers
No, Sir. Effective machinery for bringing to an end undesirable price fixing agreements is already provided in Part I of the Restrictive Trade Practices Act, 1956.
§ Mr. Lipton
Is it not clear that the arrangements in Part I of the Act are quite inadequate to deal with the problem in its present magnitude? Is it not clear, further, that all these trade agreements and resale price maintenance arrangements are sabotaging the Chancellor of the Exchequer's somewhat ineffectual appeal to bring down prices? When will the consumer get the benefit of increased productivity?
§ Mr. Rodgers
There is no reason so far to assume that all agreements on price are necessarily against the public interest.