§ Mr. Roy Hughes
asked the Secretary of State for Employment and Productivity what action she now proposes in respect of the salary increase granted to bank employees in September of this year; and if she will make a statement.
My right hon. Friend, after consultation with other Ministers, has proposed that this settlement shall be referred to the National Board for Prices and Incomes. She has indicated her willingness to approve an interim pay increase under the settlement on the understanding that it would not exceed 3½ per cent. and would be reviewed when the Board reports. The views of the Trades Union Congress and of the Confederation of British Industry and of the interested parties are awaited.