§ 65. Mr. John Pageasked the Secretary of State for Employment and Productivity whether she will make a statement on her discussions with the banking industry about the recent report of the National Board for Prices and Incomes.
§ Mr. FernyhoughMeetings have been held with both sides of the Joint Negotiating Council to consider Report No. 106, "Pay in the London Clearing Banks".
The parties have been advised that the Government would be prepared to agree to the implementation from 1st July, 1969, without retrospection of the balance of the J.N.C. settlement, over the 3½ per cent. interim increase already paid from July, 1968, but stipulated that there should be no further general settlement before July, 1970. Account has been taken of the National Board for Prices and Incomes' findings, which recognises that the rate of increase in productivity is expected to continue, and that the settlement itself with its moves towards equal pay and the industry-wide alignment of clerical scales is a valuable rationalisation, as it provides a common platform for future action on the lines recommended by the Board.