§ 20. Mr. Campbell-Savoursasked the Chancellor of the Exchequer if, further to his correspondence with the right hon. Member for Stepney and Poplar (Mr. Shore) on 4 August 1981, he remains satisfied that the most useful meaning of the word "recession" is a description of a situation in which industrial production and national output are falling.
§ Mr. BrittanMy right hon. and learned Friend's letter of 4 August 1981 provides a balanced and considered reply. Activity is now higher than a year ago and the gradual recovery is expected to continue.