§ Mr. Galleyasked the Secretary of State for the Environment what assessment he makes of the employment potential of each £100,000 of (a) public and (b) private investment in housing improvement.
§ Sir George YoungThe employment effects are approximately equal for public and private investment in housing improvement. About 70 to 75 per cent. of the cost is estimated to be spent on labour, directly and indirectly. This varies according to the nature of the work. However,402W assessment of the overall effects on employment potential depends on a wide range of assumptions about effects on competing expenditures, on interest rates, on exchange rates and other factors.