§ 13. Mr. Kenneth Carlisleasked the Chancellor of the Exchequer how the most recent figures for the rate of inflation in the United Kingdom compares with the rates of inflation of the United Kingdom's main competitors within the Organisation for Economic Co-operation and Development.
§ Mr. Peter ReesOver the 12 months to January 1984 the United Kingdom retail price index increased by 5.1 per cent., that is to say above the rates of Japan, West Germany and the United States, but below the rates of Canada, France and Italy.
§ Mr. CarlisleIs my right hon. Friend satisfied that the public understand that a 5 per cent. rate of inflation still means a doubling of prices in 14 years? As this is far too high, will he ensure that the Government continue their policies to reduce the rate of inflation?
§ Mr. ReesI cannot answer for the state of mind of the general public, but I can give my hon. Friend the assurance on Government policies that he requires.
§ Mr. BottomleyAt the meeting of the NEDC and the TUC, was there any discussion of the levels of pay settlements consistent with improved competitiveness?
§ Mr. ReesIt has always been the Government's view that wage settlements should be low enough to be consistent with improved job prospects in the industries concerned.