HC Deb 26 November 1968 vol 774 c70W
67. Sir C. Osborne

asked the Chancellor of the Exchequer how much of the£500 million consumer expenditure which has occurred in excess of his policy he estimates was paid for by increased wages and salaries and from liquidating savings, respectively.

Mr. Diamond

These two factors have certainly contributed to the excess of consumers' expenditure over forecast, but the main explanation is that prices have risen more slowly than estimated.

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