§ Mr. Deakinsasked the Secretary of State for Employment what reduction in the rate of increase of average earnings, expressed as an annual ratio, was achieved in stages 1 and 2 respectively of the counter-inflation policy.
§ Mr. Chichester-ClarkThe increases in the seasonally-adjusted index of average earnings were:
Per cent. Equivalent Annual Rate November 1971 to November 1972 16.6 16.6 November 1972 to March 1973 1.0 3.0 March 1973 to November 1973 Not yet available The seasonally-adjusted index of average earnings increased by 16.6 per cent. between November 1971 and November 1972 and at a rate equivalent to 3 per cent. per annum from November 1972 to March 1973. Information for the period March 1973 to November 1973 is not yet available.