BRITISH PRICE CONTROL

Press, Volume LXXXIV, Issue 25483, 1 May 1948, Page 7

BRITISH PRICE CONTROL

T.U.C. SUPPORT FOR POLICY (Special Correspondent N.Z.P.A.) (Rec. 9.30 p.m.) LONDOIt April 30. It is now clear that there will be no clash between the Government and the general council of the Trades Union Congress over the limitation of profits and the control of prices. The general council has jannounced that it is satisfied with the measures introduced bv the Chancellor of the Exchequer (Sir Stafford Cripps). It says there are encouraging indications that the policy of the Chancellor in dealing with the limitation of profits and the control of prices will accomplish its objects. This declaration of confidence was made after considering the report of a special committee on the economic situation, and after a meeting with Sir Stafford Cripps since the introduction of the Budget. “The declaration presents,” says “The Times,” “an interesting contrast with criticism of the Budget policy on profits, expressed earlier in the T.U.C. organ, the ‘Daily Herald.’ Some trade union leaders were at first unhappy about certain features of the Budget, but others saw its merits more clearly, and evidently their view ,has now found general Support. “The ‘encouraging indications’ presumably refer -to such things as reductions in prices carried out by the cooperative movement and other retailers, and to recent price reductions, such as that for steel sheets.”

The T.U.C. council said, however, that because of the uncertainty in external prices, the probable course of domestic prices and the cost of living could not yet be clearly estimated. A special committee will examine the situation continuously, and the council will review the movements of prices and profits at least every three months.