§ 41. Mr. Wyn Robertsasked the Chancellor of the Exchequer what is his latest estimate of the average level of wage settlements and its likely effect on inflation.
§ Mr. Joel BarnettMy impression is that the average level of wage settlements is some way below that prevailing this time last year. However, although there has been no pay explosion, the average level of settlements has been higher than the Government had hoped for and this will inevitably have adverse consequences for the future rate of inflation.