§ Mr. Gouldasked the Chancellor of the Exchequer (1) how the increase in hourly wage rates and seasonally adjusted average earnings in manufacturing industry since 1970 compares with the increase in export prices for manufactures and the wholesale prices for manufactures less food, &c., in each of the years 1973 to 1975 and in the latest month for which figures are available;
(2) what was the percentage increase in import and export prices of manufactures during 1976; what were the corresponding figures for wholesale prices excluding food, hourly wage rates and weekly earnings in manufacturing, and 516W unit labour costs; and what was the percentage fall in the value of sterling.
§ Mr. Denzil DaviesData on import and export prices of manufactures, and on the value of sterling, can be found in tables E12, B18 and B22 of the Monthly Review of External Trade Statistics No. 16. Data on hourly wage rates, average earnings in manufacturing and unit labour costs can be found in Tables 130, 127 and 134 respectively in theDepartment of Employment Gazette for January 1977, and in the DE Press Notice on earnings dated 28th January. Data on wholesale prices—less food, drink and tobacco—can be found in Table 2 of Trade and Industry, dated 21st January 1977. Copies of these publications are available in the House of Commons Library.
§ Mr. Gouldasked the Chancellor of the Exchequer what was the increase in the dollar price of United Kingdom exports of manufactures in August 1976 compared with 1970 and 1975; what are the corresponding figures for Germany, the United States of America and Japan; what was the movement of the sterling rate against the dollar between August and December; and what estimate he makes of increases in Germany, United States and Japanese export prices for manufactures over this period in their own currencies, in order to make an assessment of United Kingdom competitiveness.
§ Mr. Robert SheldonThe requested figures on export prices are given in the table below. The pound depreciated by 6.3 per cent. against the dollar between August and December. Relatively little information is available on manufactured export prices of other countries over this period, and although estimates are made for internal purposes it is not customary to publish these.
Manufactured exports prices, dollar terms1970=100 1975 August 1976 United Kingdom … 176 177 USA … 159 169 Germany … 195 1961 Japan … 178 1811 1 Q3 1976 figure.