§ Mr. Arthur Lewisasked the Chancellor of the Exchequer what rate of inflation in the United Kingdom is acceptable to Her Majesty's Government.
§ Mr. NottOur aim is to reduce the high rate of inflation we inherited in 1970, and good progress has been made: the rate is little more than half what it was a year ago. But it is still too high, and this shows the need for further progress in reducing the rate of pay settlements.