British Legislation to Prevent Excess Price Rises

Manawatu Times, Volume 64, Issue 244, 16 October 1939, Page 8

British Legislation to Prevent Excess Price Rises

(British Official Wireless) (Received 14, 12.45 p.m.) RUGBY, Oct 13. The object of the Prices of Goods Bill, the text of which has just been issued, is to prevent more than a justifiable increase in the wartime price of such goods as normally form part of household supplies. The Bill was drafted after consultation with trades organisations, and is aimed at a small minority of who might be tempted to take advantage of wartime conditions, and must not be confused v/ith excess profits arising from larger turnover. These latter have been dealt with by other legislation. The principle on which the Bill proceeds is the fixing of a basic price, which is in general taken to be that at which the goods concerned were solcj in ordinary business on August 1, 1939. To this figure are added increased costs of manufacture and distribution and such other costs as may prove to be justified. Machinery is set up* by which representations may be made to the Board of Trade by trade organisations, and the board may, after consulting the Central Price Regulation Committee, issue an order specifying prices for classes of good*?. The Bill, which does not apply to auction sales or export, provides severe penalties for infringement.