§ Mr. Clark Hutchison
asked the President of the Board of Trade if he intends to refer the question of insurance premiums to the National Board for Prices and Incomes.
§ Mr. Crosland
Under arrangements made with insurers in 1966 my predecessor recognised that the nature of insurance required some flexibility in relating premiums to experience of claims and changes in the nature of risks, and the insurers undertook to consult the Board of Trade in advance if they found it necessary to propose any overall increase in rates of premium relating to any separate class of insurance. It is not, therefore, the present intention to refer insurance premiums to the National Board for Prices and Incomes.