HC Deb 22 April 1977 vol 930 cc180-1W
Mr. Ridley

asked the Chancellor of the Exchequer whether he will estimate the rate of increase of earnings under the present pay limit, referred to in the first sentence of paragraph 1 on page 10 of the Financial Statement and Budget.

Mr. Healey

The information at present available to me is consistent with an increase in earnings in single figures for the 12 months ending July 1977. I have seen some higher estimates based on simple projections of the rate of increase so far. Annual rates derived from a six or seven months' total can be very misleading. At this time last year they would have suggested too high a figure for the 12 months ended July 1976.

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