§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer, pursuant to his answer of 1 March,Official Report, column 665, what priority he accords to stable 876W prices; and what is the connection between that and (a) each of the priorities indicated in his answer and (b) reducing unemployment.
§ Mr. NelsonLow inflation on a permanent basis is an essential condition for sustained economic growth and higher living standards. But in itself it is not enough. Combined with the Government's policies to improve the functioning of the labour market, and the operation of markets more generally, it will contribute to a lasting fall in unemployment.