HC Deb 13 February 1986 vol 91 c546W
Mr. Hayward

asked the Chancellor of the Exchequer what assessment he has made of the overall effect in terms of jobs on the British economy arising from the fall in production costs by the recent decline in the price of crude oil; and if he will make a statement.

Mr. MacGregor

Industry will certainly benefit from lower production costs as oil prices fall; but the outlook for employment still depends crucially on the level of pay settlements.