§ 20. Mr. MacGregorasked the Secretary of State for Prices and Consumer Protection by how much he now expects the rate of price inflation at the end of 1977 to be below the current year-on-year level.
§ Mr. HattersleyI am not prepared to give a forecast of this kind. The Treasury forecast which was published on 15th December and based on the general outlook at that time indicated that inflation would be at about 15 per cent. at the end of 1977 and on an improving trend. The success of the December measures and the subsequent evidence of economic recovery have improved the general outlook.