§ Mr. Oakesasked the Secretary of State for Employment and Productivity, what progress has been made with regard to the Government's proposal to refer to the National Board for Prices and Incomes the pay settlement reached by the Joint Negotiating Council for Banking.
§ Mrs. CastleThe Government propose to refer the settlement of the Joint Negotiating Council for Banking to the National Board for Prices and Incomes because it felt unable to approve the settlement as justified under the prices and incomes policy.
In asking the two sides on 15th November for their views on a reference the Government offered to agree pending the Board's report, to an interim increase under the settlement not exceeding 31 per cent. The consultations are now completed and the reference is to be made and published in the Gazette on 29th November, 1968. The parties are being informed accordingly.