§ 66. Mr. Colin Shepherdasked the Secretary of State for Employment if he will estimate the effect of the trend in the level of the retail price index on wage settlements.
§ Mr. AlisonThe fall in the retail price index to its present level of below 5 per cent. has undoubtedly played an important role in helping to moderate the level of pay settlements, but settlements are still too high, and a further significant reduction is needed if we are to match the performance of our competitors.