30. Mr. Gresham Cookeasked the Chancellor of the Exchequer what has been the fall in productivity during recent months while the index of industrial production has remained static.
§ Mr. CallaghanThe index of industrial production has not remained static. It rose by 2 per cent. between the third and fourth quarters of 1964 and by a further 1 per cent. in the first four months 1463 of 1965. There is no evidence of a fall in productivity.
Mr. Gresham CookeBut in the spring months of February and March production was almost static and unemployment was going down. Surely there must have been a fall in national productivity.
§ Mr. CallaghanIt is a little unwise to judge these figures over the short period of a month. It is far better to take the trend over a longer period. That, measured against the number of men at work and the decrease in working hours, shows no fall in productivity so far.