HC Deb 24 February 1976 vol 906 cc183-4W
Mr. Skeet

asked the Secretary of State for Energy what scale of inflation is now

Dr. Owen

The information at 30th September 1975 is as follows:

being experienced with North Sea plant and equipment; and whether in his estimation the inflationary trend in the purchase of this type of equipment is rising or abating.

Mr. John Smith

It is not possible to give an exact figure for inflation at present, but my belief is that there has been a significant decline in the inflationary trend as compared with 1973–75. I hope to report to the House shortly on the findings of the North Sea Cost Escalation Study Group.

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