§ Mr. FlynnTo ask the Secretary of State for Social Security, pursuant to her answer of 8 April 1998,Official Report, column 377, what rates of real increase in average earnings for the years to September (i) 1998 and (ii) 1999 were derived from the data and evidence available at the time of the Pre-Budget report; and what would be the corresponding rates of real increase based on the data and evidence now available. [44820]
§ Mr. Denham[holding answer 9 June 1998]At the time of the Pre-Budget Report the latest figures for average earnings showed growth of 4.3 per cent, and RPI excluding mortgage interest payments was forecast to be 3 per cent. in 1998 and 2.5 per cent. in 1999.
The latest figures now show average earnings growth running at 5.2 per cent. At Budget time the forecast for RPI excluding mortgage interest payments in 1998 was revised down to 2.75 per cent. and the forecast for 1999 was unchanged at 2.5 per cent.