TO PREVENT PROFITEERING

Greymouth Evening Star, 14 October 1939, Page 7

TO PREVENT PROFITEERING

PROVISIONS OF BRITISH BILL. t [BRITISH OFFICIAL WIRELESS.] RUGBY, October 13. The Prices of Goods Bill, the text of which has just been issued, is to prevent more than a more than justi-j liable increase in the war-time price of such, goods as normally form pai t of household supplies. The Bill was drafted after consultation with trades organisations, and is aimed at. a small minoritv of traders who might be tempted to take advantage of wartime conditions, and it must not boi confused with excess profits arising from a larger turnover. These latter have been dealt with by other legtsThe principle on which the .Bill pi oceeds is the fixing of a basic price, which is in general taken to be that at which the goods concerned were sold in ordinary business on August. l,j 1939 To this figure are added the increased costs of manufacture, distribution, and such other costs as may prove to be' justified. P Machinery is set up by which representations may be made to the Hoard of Trade by trade organisations, and the Board may, after consulting the Central Price Regulation CommitHe issue speelOins the nrices for classes of goods. P The Bill, which does not apply to daily auction sales or export, provides severe penalties for infringement.