§ Mr. Alexander W. Lyonasked the Chancellor of the Exchequer what would be the increase in gross national product which would result from a fall in unemployment to a level of (a) 3 per cent., (b) 2.5 per cent. and (c) 2 per cent.
§ Mr. BiffenIt is impossible to say with precision what increase in GNP would be associated with a given fall in unemployment. Among other things it would depend upon the underlying productivity in those sectors taking up the unemployed labour.