6 SEPTEMBER 1975, Page 5

Curing inflation

From Group Captain C. E. Williamson Jones

Sir: I belive that I have hit on a way to cure inflation which is practicable and which the nation will watch with keen interest, like watching a football match.

1. Pay the Prime Minister and MPs handsomely, say £100,000 a year for the former and £15,000 for the latter.

2. Calculate a suitable cost of living index, without subsidies or controls.

3. Deduct £5,000 a year from the Prime Minister's salary, and £500 a year from the MP's for every 1 per cent rise in the cost of living.

4. Promise MPs a reward of £500 for any year in which the index is kept within a 1/2 per cent of the current rate, ignoring temporary fluctuations.

I am sure that these measures would soon lead to a stream of cuts in government expenditure, which every one must know, in their heart of hearts, is what leads to the government borrowing and printing the money needed to sustain a constant rise in prices. At any rate, it would be intensely interesting watching our MPs squirming between the temptation to bribe the electorate, and their attempts to prevent losses in their own incomes.

C. E. Williamson Jones Flint Cottage, Roundstone Lane, Angmering