§ Mr. David Mitchellasked the Chancellor of the Exchequer what is his 857W estimate of the value to the gross national product of a 1 per cent. increase in productivity of labour throughout the United Kingdom economy, excluding North Sea oil.
§ Mr. Denzil DaviesHigher productivity would permit a higher sustainable level of output and thus real incomes. The impact on the economy would depend on the extent to which it was passed on as lower prices, or led to higher earnings or profits.