§ 38. Mr. Gwilym Roberts
asked the Chancellor of the Exchequer if he will initiate a study into the effects of inflation, interest rates and public expenditure on the level of unemployment.
§ Sir Geoffrey Howe
These effects are kept under continuous review by the Treasury and other Departments. They are also of considerable interest to bodies outside the Government.
§ 39. Mr. Foulkes
asked the Chancellor of the Exchequer what percentage of the current level of unemployment is attributable to cuts in public expenditure.
§ Mr. Biffen
Even if cuts in public expenditure have some temporary effect on output it would not be possible to cal-192W culate the effect on unemployment with any tolerable degree of accuracy as the relationship between output and employment has become very unstable.