HC Deb 17 July 1979 vol 970 cc450-1W
Mr. Jessel

asked the Secretary of State for Employment how he estimates employment in the United Kingdom is likely to be affected by recent current and forecast changes in international oil prices.

Mr. Jim Lester

We are better placed to cope with increased oil prices than most other industrialised countries, but any slowdown in the world economy must affect the prospects for United Kingdom exports and, therefore, United Kingdom output and employment. It is not, however, practicable to quantify the effect on employment.