§ Mr. Freud
Is the Prime Minister aware that that will come as a small blow to my constituents? Will the Prime Minister accept that the fear of Grunty Fenmen is that her Ministers have no idea of how, when or even whether the level of wage settlements will be lowered by her policy of monetarism and of restraining the growth of M3? Will she state how much damage will be done to the economy's productive capacity—[HON. MEMBERS : "Reading"]—before the policy's effect on wages becomes apparent?
§ The Prime Minister
I am sorry to hear of the worries of the 97 people in Grunty Fen. I had understood that it was a very happy agricultural community, that it had a low rate of unemployment and that it was in many ways contented under a Conservative Government. As regards the hon. Gentleman's statement about monetary policy, if we are to squeeze inflation out of the economy it is vital 297 that we print less money. Our policy is directed towards that.