HC Deb 26 January 1971 vol 810 cc57-8W
31. Mr. Emery

asked the Chancellor of the Exchequer what estimates he has made of the amount of inflationary pressure that existed in the economy at 18th June, 1970, and at the latest convenient date.

Mr. Barber

Accelerating cost inflation was the most serious domestic problem which the Government inherited in June, 1970. It can be curbed only by securing a progressive and substantial reduction in the level of pay settlements.

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