§ Mr. Alfred Morrisasked the Chancellor of the Exchequer what representations he has received from the Parliamentary Committee of the Co-operative Union Limited on the state of the economy; what reply he is sending; and if he will make a statement.
§ Sir Geoffrey Howe[pursuant to his reply, 6 November 1980, c. 655]: I have received a letter from the Parliamentary Committee of the Co-operative Union Limited expressing concern over the state of the economy. In reply I explained the Government's economic policies and pointed out that these policies are now showing signs of success. Inflation is declining and a new mood of realism is emerging in pay negotiations. These offer the best prospect for a stronger economy in future.