§ 19. Mr. Geraint Howellsasked the Chancellor of the Exchequer when he expects the annual rate of inflation to be reduced to single figures.
§ Sir Geoffrey HoweI published forecasts for movements in the RPI at the time of the Budget, and I do not think it would be useful to ge beyond these. The sooner wage bargainers adjust their expectations to financial and economic realities, the sooner we shall have a low rate of inflation.