HC Deb 31 July 1978 vol 955 c104W
Mr. Arthur Lewis

asked the Prime Minister on what basis he came to the judgment made in his public speech at Swansea on 21st July that an incomes policy and a limit on wages would reduce unemployment, in view of the statistics issued by the Government since 1974.

The Prime Minister

As the White Paper "Winning the Battle Against Inflation" (Cmnd. 7293) makes clear, inflation erodes our international competitiveness, and thus leads to loss of jobs. Inflation cannot be controlled unless the rate of increase of earnings is moderate.