§ Mr. Austin Mitchellasked the Chancellor of the Exchequer whether he will bring up to date the information given in the Official Report, c. 10, 15 November 1982, concerning changes in competitiveness; and if he will include figures based on relative export prices.
§ Mr. Bruce-GardyneThe information requested concerning changes in cost competitiveness is provided in the following table. No such estimates are prepared for relative export prices.
Relative unit labour costs unadjusted for exchange rate movements Exchange rate per cent changes relative unit labour costs adjusted for exchange rate movements United Kingdom/West Germany 1976 Q4—1982 Q3 +48 +8 +59 1979 Q2—1982 Q3 +21 +9 +31 United Kingdom/Japan 1976 Q4—1982 Q3 +83 -8 +68 1979 Q2—1982 Q3 + 38 -1 +37 United Kingdom/France 1976 Q4—1982 Q3 + 10 +46 +61 1979 Q2—1982 Q3 +2 +32 +34 United Kingdom/United States of America 1976 Q4—1982 Q3 +21 +5 +26 1979 Q2—1982 Q3 + 11 -17 -8 Notes:
1. A rise in relative unit labour costs implies a loss of cost competitiveness.
2. When expressed as ratios the changes in columns 1 and 2 multiply together to give column 3.