§ Mr. Pavittasked the Secretary of State for Employment what is his estimate of the cost to the economy caused by the loss of 360 million working days in 1978–79 and the 710 million working days lost in 1980–81 through unemployment.
§ Mr. TebbitA realistic estimate of the cost of unemployment to the economy implies a comparison with a hypothetical alternative situation in which that unemployment had not occurred. But a wide range of such hypothetical alternatives could be envisaged, each of which would yield a different estimate. In view of these unavoidable complications, it would be impossible to put forward any single estimate of the cost of unemployment which would have any meaning.