HC Deb 17 June 1982 vol 25 c343W
21. Mr. Richard Wainwright

asked the Chancellor of the Exchequer what is the latest estimate of United Kingdom cost competitiveness compared with mid-1979.

Mr. Bruce-Gardyne

According to the IMF series for actual relative costs, our position towards the end of 1981 was around 15 per cent. worse, having deteriorated by over 30 per cent. between mid-1979 and the first quarter of 1981 and then improved by nearly 15 per cent. by the last quarter of the year.