§ Mr. A. Lewis
asked the Chancellor of the Exchequer whether he is aware that between 1951 and 1961 the £ sterling depreciated in purchasing value by 24 per cent., the index of retail prices rose by 41 per cent., and income from rent for landlords rose by 149 per cent.; and what action he proposes to take to prevent this continued rise in rents, in view of its inflationary effect on the economy.
§ Mr. Barber
I am aware of these figures. The figure for income from rent includes the rental income of local authorities and imputed rent on owner-occupied houses. It reflects not only increases in rent but also the large number of new houses, factories and other buildings erected during the period. There is need for the growth of all incomes to be kept in line with the growth of national production, but as a proportion of total domestic incomes rent is now only 5 per cent. compared with 9½ per cent. before the war.