§ 41. Mr. Meacherasked the Chancellor of the Exchequer what increase in unemployment he expects to result in 1980, 1981 and 1982 from the Government's present proposals for public expenditure cuts.
§ Mr. BiffenThe Government have so far announced their public expenditure plans only for 1980–81. Plans for later years will be presented in the New Year.
The stabilising of public expenditure in 1980–81 will assist the control of public borrowing and monetary growth without excessive pressure on interest rates and higher taxes. Such financial control is an essential pre-condition for lower inflation and a resumed growth of output and employment.