§ 38. Mr. Bruce-Gardyneasked the President of the Board of Trade if he will invite the National Economic 541 Development Council to undertake a study of the correlation between the comparative rates of increases in recent years in earnings in manufacturing industry in the United Kingdom, France, Germany, Italy, Sweden and Japan and the changes in those countries' respective shares of world exports of manufactures over the corresponding period.
§ Mr. JayWe shall shortly be discussing in the National Economic Development Council the influence on our export performance of various factors, including relative changes in earnings in manufacturing industry in this and other countries.
§ Mr. Bruce-GardyneDoes not the right hon. Gentleman agree that the calculations in the latest issue of Economic Trends suggest that there is no correlation between comparative rates of wage and salary inflation in different countries and export performance? Will he draw that to the attention of the First Secretary of State?
§ Mr. JayI would not go so far as to say that there is no correlation but a number of other factors, including efficiency of management, marketing and so on, are extremely important in themselves in determining export trends.