§ Dr. McDonaldasked the Chancellor of the Exchequer if he will estimate in the net increase in unemployment in 1977–78 which will result from the measures he announced in the House on Wednesday 15th December, excluding any job creation or job saving measure.
§ Mr. Joel Barnett,pursuant to his reply [Official Report, 20th December 1976; Vol. 923, c. 73], gave the following information:
I estimate that on the basis of conventional calculations the net increase in unemployment resulting from the measures announced on 15th December, excluding the industry and employment measures, will be about 40,000 by the end of 1977. However, as my right hon. Friend said in his speech on 21st December, such calculations ignore the beneficial effects of improved confidence both at home and abroad which the measures are designed to achieve.
§ Mr. Hayhoeasked the Chancellor of the Exchequer what estimates he has made of the number of jobs that will be lost as a result of the cuts in Government expenditure announced by the Chancellor of the Exchequer on 15th December; and how many of these are expected to be in the private sector.
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§ Mr. Joel Barnett,pursuant to his reply [Official Report, 20th December 1976; Vol. 923, c. 73], gave the following information:
I estimate that on the basis of conventional calculations the net reduction in employment resulting from the cuts in Government expenditure announced on 15th December will be about 140,000 by the end of 1978, most of which will occur in the private sector. However, as my right hon. Friend said in his speech on 21st December, such calculations ignore the beneficial effects of improved confidence both at home and abroad, which the complete package of measures is designed to achieve.