§ Mr. Sillarsasked the Chancellor of the Exchequer by how much he estimates his current growth rate target of 5 per 31W cent. will exceed the underlying increase of productive potential in the economy.
§ Mr. NottThere is a considerable degree of undercapacity in the economy at the present time. The underlying growth in productive potential is difficult to identify precisely but is estimated at about 3 per cent. per annum, over a period of time.