HC Deb 04 July 1978 vol 953 c132W
46. Mr. Tebbit

asked the Chancellor of the Exchequer what estimate he has made of the effect upon employment of the current rate of increase in earnings.

Mr. Healey

I have made no precise estimates of the effects of particular rates of earnings growth on employment. There is, of course, a powerful relationship betwen the rate of increase in earnings and prices on the one side, and the level of economic activity and employment on the other side.