[PDF]I PRIME MINISTER John Nott did discuss the gist of...
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PRIME MINISTER
John Nott d i d now
that
discuss
the
gist
7 May
of h i s m i n u t e o f
I h a v e s e e n h i s m i n u t e I would
like
t o r e s t a t e my
f o r immediate a b o l i t i o n - John's o p t i o n
( i ) - but
the
hoc
idea
of
our
reserving
p o w e r s f o r ad
i n d i v i d u a l p r i c e s or f o r i n d i v i d u a l p r i c e retrospectively. but
among t h e
There are
most i m p o r t a n t
Government i n t h e
among f i r m s
Commission i n t e r f e r e n c e . i n v e s t i g a t i o n would n o t and
to business
I
that
pricing decisions
creates uncertainty
c r e a t e new
are
The
i t involves
of
possibility
outright and
an
c a r e f u l not
most p e o p l e a l r e a d y impact
I do,
adverse to
understand
u n i o n s e n t i m e n t we
that
increases. can
I f we
draw a t t e n t i o n
want t o
the
autumn
impact
of
pay
the
profit
to
c o n t r o l many p r i c e s u n d e r t h e
the
found to
exist,
fact
t h a t we
F a i r Trading the
a Monopolies Commission
o r d e r more e x t e n s i v e
had
o f f e r a sop
can
to
boost
necessary.
the P r i c e Commission has
interest
empower u s
any
a b o l i t i o n of the
a monopoly s i t u a t i o n w h i c h o p e r a t e s a g a i n s t
can
fact
Commission might
on
Provided
be
in
out
exaggerate the
the
of
t o be
the
impact
that i t
d i d n o t h i n g t o m o d e r a t e u n i o n wage demands
on p r i c e
p o s s e s s powers to
cancel
a b o l i t i o n of
P r i c e C o m m i s s i o n on u n i o n s e n t i m e n t ;
trade
would
by
Price
would
r i s k that
winter
of
but
s h o u l d be
effective
possibility
and
remove t h a t u n c e r t a i n t y
round.
last
interference
Boards
repercussions
we
Commission
hoc
have p o l i t i c a l But
reversed
o f ad
unkown u n c e r t a i n t i e s , and
the
t o be
individual firms
about the
resist
review
to the P r i c e
c o n f i d e n c e which John b e l i e v e s , as
appreciate
safeguards
Boards to
but
preference
I would
increases
many o b j e c t i o n s
w i t h me
price reductions
and no
to
already
Act.
public
investigation
than
are
/possible
...
2
possible
following
a Price
when a n n o u n c i n g t h e r e f e r to
our
Commission i n v e s t i g a t i o n .
abolition
ability,
should
of t h e i t be
Commission machinery f o r p r i c e can
instruct
the
No
short
doubt i t w i l l
time
be
investigations.
n e c e s s a r y to
to a b o l i s h
the
Price
enactment of
the
legislation,
the
Commission's a c t i v i t i e s
am
also
Monopolies
( I understand that their
to r e p o r t
period
c o n s i d e r what i n t e r i m
intention
I
the
should
that,
investigation within
a
we
scale).
made f o r
the
limit
o f m o n o p o l i s t s and
s h o u l d be
and
C o m m i s s i o n , we
needed, to use
Monopolies Commission to
only to p r i c i n g p r a c t i c e s relatively
Price
I suggest
between the Commission,
during that
copying t h i s minute to
Cabinet
announcement of i f that
i n order to
curtail
c o l l e a g u e s and
ID
i s the
the decision, the
time.
K
Department of Industry Ashdown House
arrangements
S i r J o h n Hunt.
J May
1979