XN000022-1974-03-27 — Page 24

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Wednesday, March 27, 1974

"It also means that I must have the most comprehensive advice

from the trade and from the public about supplies and prices. Finally it

means that I must be able to monitor the results of any controls I impose

and ensure that people who break the rules are penalised. It goes without

saying that any such controls should be dismantled as soon as possible."

Mr. Jordan said that he had come to the conclusion that his

authority to influence supplies on the way to the consumer must be extended

to wholesalers if he was to prevent this section of the trade from hoarding

and anticipating price increases.

He proposed therefore to seek some amendment to the Reserved

Commodities Regulations.

"As far as the retailers are concerned, I hope that we can maintain

a sufficiently strong influence on their prices by ensuring adequate supplies

to them on the one hand and through the direct retail scheme on the other,"

he said.

Mr. Jordan said that in recent months, and despite a fully

adequate supply of rice to the market, he had been aware of temporary

shortages occurring from time to time at the consumer end of the trado.

These shortages were caused by the expectation within the trade

of retail price increases, as one supplier or another announced increases

in prices.

The shortages were artificial and some of them were undoubtedly

contrived in order that people holding stocks of rice at all levels of the

trade could profit from higher prices, Until recently, however, this sort

of thing had only a slight effect on trade and prices.

/Towards the .....................