HC Deb 11 November 1974 vol 881 c17W
Mr. Rost

asked the Secretary of State for Employment what he estimates should be the maximum tolerable percentage increase in the national average level of earnings over the next 12 months if the rate of inflation is to be reduced to 10 per cent. by the end of next year, according to the target set by the Chancellor of the Exchequer.

Mr. Booth

My right hon. Friend has made no such estimate, since the rate of inflation depends on other factors besides the increase in the average level of earnings.

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