§ 65. Mr. Willie W. Hamiltonasked the Chancellor of the Exchequer what estimates have been made of the effects on future trends in unemployment arising from increasing interest rates.
§ Mr. Peter ReesThe magnitude of the effect of a rise in interest rates on unemployment will depend on the circumstances in which the rise in interest rates comes about, including the stance of fiscal policy. Quantitative estimates would require that these circumstances be specified precisely, and would still be subject to very large margins of error.