REGULATION OF PRICES IN BRITAIN

Wanganui Chronicle, Volume 83, Issue 301, 21 December 1939, Page 8

REGULATION OF PRICES IN BRITAIN

FIRST ORDER ISSUED BY BOARD OF TRADE ( HECK TO VK’IOI n CIR( LE OF RISING COSTS RUGBY. Dec. 19. ■ T\? Government hr.ving expressed i its intention to take the necessary ' steps regarding an undue rise in ' Drices, the Board of Trade has made its first order und r Section 2 of the 1 Prices of Goods Act. passed during the last session of Parliament. The prices i of goods under the order will com° into effect as from January 1. The order affects goods mainly and , necessarily used by a largo section of the population, th? retail prices of which must he limited to th«se prevailing on August 21. Where pr>- in r.-eases repr- -ent risin costs and expenses the list will he modified and extended when necessary. and it is probable, therefore, that further orders will no made from time to time. The main objective of the order is to check rhe so-called vicious circle caused by continuously rising prices, followed by a consequent rise ir. money wages, folloved by further rises, and so on. which sooner or later results in inflation. Luxury and more expensive lines of goods are not included in the list. Overseas Trade Board of Trade returns for overseas trade for November show imports valued at £83.988.9 0, compared with £81.841.464 la<t month and £77.973.613 November. 1938. The value of November exports was £37.360.327. against £24.622.840 in October and £42.923.223 in November. 1938. Reexports were £2.7459'77 against 11.998.146 las' month and £5.113,912 in Novcmoer. 1938. In the first eleven months of the year the total value of imports was of £46.036.401 on the corresponding period of 1938. The eleven months’ exports totalled £398.686.810, a decrease of £33.313,768.