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that would mean a significant shortfall of itself, but there is a far greater deficit. the retail prices index, against which energy bills are measured, shows inflation of around 18 per cent. since 2001, and 14 per cent.

No

in the commission we asked the minister what coherence there was in this plan and we do not think we have gathered elements that can reassure us in this sense. in fact, as many consumer associations maintain, the insurance sector is characterized by <<rocky cartels>> which have determined - as I will shortly demonstrate - exaggerated increases in premiums compared to inflation which, for example, in the last year has been of approximately 1.7 percent, while the increase in premiums was equal to 17 percent. which is like saying that in Italy we have a policy-inflation ratio of one to ten. while everywhere in Europe insurance costs have decreased, in Italy, for a mysterious reason, they continue to increase, to the point that we have recorded scandalous increases in recent years.

No

i will give way in a little while. those business leaders know that we have the lowest inflation rate in the g7; the second lowest inflation rate in the community; among the lowest interest rates in the community; the predicted highest growth rate in the community this year and next; and that we are one of only two community countries in which unemployment is falling. business also knows that, contrary to the position that was honestly stated again by the right hon.

No

genleman says, that small families may be in great need: it is not only the large families who are in need. however, if we are trying to minimise the effects of inflation, in so far as it damages large families more than small families, the second and subsequent children must be thought of first. i have often said that when the price of bread, cheese, meat or another household necessity that is required by each member of the family, goes up, the large family is hit much worse by inflation than the single-person household or a couple. in one case, the housewife has one or two plates to cover with food, whereas, in the other case she may have five or six.

No

i congratulate my hon. friend on getting the government to admit that the increases are arbitrary and not linked to inflation in any way. is it not the case, therefore, that the only reason for the increases is to prevent injured people from getting representation and thereby preclude people with meritorious cases from getting the damages that they deserve?

No

the uprating of fuel duties is a mystery. the chancellor said in his budget speech that he would increase the duties on diesel and petrol in line with inflation, but now that we have had a chance to examine the budget documents it seems that they are going up by about 3.2 per cent. inflation is not 3.2 per cent. the mystery deepens when we notice that the inflation-based increase in personal allowances is only 1.2 per cent. when it suits the government to have a nice low uprating of personal allowances, they use an inflation figure of 1.2 per cent., but when uprating benefits the revenue they use 3.2 per cent. we have discovered a new stealth tax and it took us only two days to find this one.

No

even some other common sense elements, such as those relating to the blocking of the fair rent, were not included in the decree-law as it was possible to do. it was then said that these elements had to be left to subsequent acts of the government, such as the global bills on fair rent or the measures, always adopted by the government, taken in the presence of facts that distort, from the point of view of the inflation, the effects on real wages, on family incomes, effects produced by the trend of inflation and the increase in the cost of living. I would like to note that that famous fair rent amendment bill should have been introduced many months ago due to an explicit commitment made by the government.

No

i recognise that more money has been spent on the health service, but it needs even more. inflation in the health service is running at 3.9 per cent., so the money currently invested in it is not enough. the hon.

No

the main question which faces us now is whether it is possible to carry this action through to a logical conclusion and what will be the consequences of so doing. that leaves still the whole question of the inflation of tension and the effect of bombing action on the mediterranean and the middle east. after the earlier incident nasser's influence was greatly increased.

No

members, and to many beyond the house, current expenditure will have increased in 1987 88 by around 10 per cent. well over twice the rate of inflation in the economy generally, and, what is more, faster than any measure of rising prices in the health sector specifically. if one allows for that and also for the benefit of the cost-improvement programme, the margin available for service development will have increased by nearly 3 per cent., comfortably ahead of even the most pessimistic estimate of demographic pressures.

No

i believe that the 1.25 currently paid barely meets the cost of maintaining a guide dog. the payment is thus in urgent need of review, especially as it has come nowhere near keeping pace with inflation. although we applaud the increase in tax allowance given to the blind by the government some time ago, does not my hon.

No

perhaps next year, when the subsequent multiannual programme is published, the financial secretary will not be doing so well with price stability. i suspect that the pass has been sold and the prime minister realises that the british economic system needs inflation. we will return to that debate another time.

Yes

But they don't have the courage to admit that the high interest rates are the result of the USA's economic policy, which is primarily oriented towards national interests. On the contrary: they even go so far as to state that the USA is in some respects an example for others of inflation-free economic growth. Please don't fool yourself or us. Until recently, inflation in the USA was kept under control primarily because the inflated dollar made American imports enormously cheaper. The US has imported stability from the rest of the world.

Yes

windfall benefits of more than 11 billion will come through from the building societies and insurance companies. that will clearly have a potential effect on consumer spending and could have an inflationary effect. the government calculation is that for various reasons, as a result of the lack of consumer confidence, much of that money will be saved, so it can be taken out of the reckoning. if they are right, that may be a good thing, but if people decide to spend the money, that could upset the inflation calculations. the chancellor has recognised that his room to manoeuvre is limited.

Yes

the second assumption in labour's document is that there would be restraint over earnings, but the document is candid enough to tell us what would happen if there were no such restraint and this great policy failed. the answer is that over the lifetime of the government we would arrive at an inflation rate of 18 per cent. and a balance of payments deficit of 25,000 million.

No

when my right hon. and learned friend announced in july the terms of the revenue support grant settlement for next year, he said that, if councils were to keep their expenditure increases within the present level of inflation, there would be no reason for community charge levels next year to be higher than they would have been if councils had been required to raise the same amounts as domestic rates this year. we published figures at the time showing that that would mean, for most community charge payers, payments in the range 200 to 300.

No

however, the borrowing requirement becomes vested with all sorts of mystical nonsense by these anonymous and less anonymous professors. it is said that it is the cause of inflation. the banks can do that by lending either to private borrowers or to the state.

Yes

Mr. von Heereman, could you please tell me where the plus is for agriculture with an inflation rate of over 2% and negative income development? Mr. von Heereman, could you please tell me where the plus is for agriculture with an inflation rate of over 2% and negative income development?

No

there have not been any substantial pay awards since november of last year. so to a great extent that item is taken into account in the rate support grant, and that takes us up to the commencement of phase 1 of the counter-inflation policythe start of the wage freeze. it also took into account the demands for improvement and development of local government services, especially those which the government had been directly encouraging.

Yes

is he further aware that 200 members have sent petitions to the right hon. gentleman asking that there be no increase on cigarettes higher than the rise in inflation and no increase at all on pipe tobacco? has my hon. friend asked his right hon. friend not to increase tobacco duty in the coming budget by more than the rate of inflation in case he succeeds in killing off the tobacco goose that lays many golden eggs for him? i did not quite catch what my hon.

No

i think our choice is a 3% rise or nothing, so it seems slightly self-defeating to vote against them, but i ask the government not to take the house's approval as a sign that it agrees with the position we are in. the government could use their discretion and make the increase higher than inflation if they wanted to, just as they have chosen many times to make it lower than inflation. we knew that this problem was coming; it has not turned up in the last fortnight and got us chasing around.

No

that is the real story of the chancellor's spending plans. none of it takes into account the effect of higher than expected inflation on the chancellor's public expenditure estimates. if we take away the gloss and look through the mirrors that were cleverly presented by the chancellor, there is a continuing real-terms crisis in the public services on which our public depend.

No

The federal government is directly responsible for this development. Their inflation policy, which led the economy into recession, had a particularly detrimental effect on newspapers and magazines because, as we know, daily newspapers in particular cover their costs to a particularly high percentage from advertising revenue and are therefore particularly susceptible to economic fluctuations. But the federal government wasn't content with that.

No

there is plenty of work to be done, but we do not have the will because we still think in terms of the 1930s.

No

it is not something due only to an obliquity or peculiarity of the british. it is something that lies within the nature of inflation, namely, that sooner or later and the faster the sooner we have to stop and, when we have stopped, we recoil. then we reap, inevitably and invariably, but now upon an increased scale, the very miseries, the very evils, the very dislocation, that the right hon.

No

however, i shall reinforce his views. i strongly believe that member states' readiness for emu must be tested, not only by the narrow, financial criteria based on interest and inflation rates, and the fiscal deficit which are constantly mentioned by the treaty's opponents but on the readiness and convergence of the real economy. two important additional criteria must be considered and must lie at the heart of the convergence process and our approach to it.

No

i recall 17 december 1973 the date is engraved on my heart when the credit expansion that had been introduced by lord barber came to an end. the vast credit expansion that led to an unprecedented boom in property and property development ended when the government imposed restrictions, and, because inflation takes two years to work its way through the system, there was massive inflation in 1975. although the scenario that the hon.

Yes

we believe that it is assumed that most of that increase in tax revenue will come from increases in current tax rates through growth in the economy. so the government have a great deal invested in the idea that growth is going to speed up and be sustained-we all do.my first point is that the one thing we cannot afford over the next five years is rapid inflation. currently, inflation is too high. the bank of england, i am afraid, was disastrous in the era of the exchange rate mechanism when it lurched from boom to bust and advised the government to take that course.

No

the hospice chairman wrote to me saying he thought that was unsatisfactory as the hospice is, after all, a charity and all its costs are covered by charitable donations, which in this instance were, effectively, going into the proxy coffers of the government by way of a regulatory burden.following that, the cqc conducted a consultation on its level of charges in general. i will refer later to some of the conclusions to be drawn from that, but it is clear that the cqc is intent on increasing the burden of charges well above the rate of inflation from year to year, partly to meet the treasury requirement that it should cover its costs by raising charges. we know, however, that it is possible for organisations to reduce their costs, although that option is very often not taken by regulatory authorities.

No

small wonder, then, that lord shawcross, who had been a labour minister, talked about a hidden army of unemployment of about 2 million, because british industry was so hugely overmanned. the resulting inflation destroyed those same pensioners' savings that we have heard discussed today, with the shedding of so many crocodile tears. the effective rate of taxation for average and low earners also rose because increases in income tax bands did not keep up with inflation, and a corollary of that was that our competitiveness, compared with that of our oecd rivals, fell, as unit labour costs increased by 117 per cent. in real terms in 10 years, while elsewhere they rose by only 45 per cent., so it was no surprise that we were locked out of the export markets that we had previously dominated.

Yes

The tenants are guaranteed a right of residence for life in an individual contract in writing. Rent increases are limited to 3 percent plus the inflation rate per year. Don't be angry: I'm pretty sure that the tenants' association and also the president of the tenants' association would also like to see such a limit on rent increases as set for the railway apartments - this is unique in Germany, sensational - for many other apartments.

No

it predicted that gdp growth would be 2.1% in 2010-11, 2.6% in 2011-12, 2.9% in 2012-13 and 2.7% in 2013-14. it was assumed that inflation would be at its highest at 4.1%. i seem to remember that it hit 5.2% or thereabouts. of course, the higher-than-predicted inflation was the only reason why the government were able to boast about record increases in pensions.something happened between june 2010 and now. the thing that happened was the government's economic policy.

No

as the right hon. gentleman said in december 1976, under the surveillance of the international monetary fund, failure to take measures to reduce our public sector borrowing requirement to the extent to which we have reduced it would have had effects on inflation and employment far more severe than anything attributable to the measures that i have announced this afternoon." [official report, 15 december 1976; vol. 922, c.

Yes

the government claim, and they are right to some extent to do so, that it is not fair to blame them for everything that has happened every day since they took office in may 1979 it seems longer than that. looking at the last six months, one finds that the government are claiming that their policies are working, and the prime minister boasts that inflation is coming down. but if she is claiming that as a credit, she must also accept the other half of the government's policy, which involves increasing unemployment.

No

members are not suggesting that stamp duty should be abolished immediately. they are saying, as i said in the main budget debate, that the matter has not been examined since 1974 but that the inflationary spiral in property has continued and more money is being collected. this sector has been unfairly singled out.

No

The number of jobs, the national product, private investments and real income have increased. The rate of price increases, interest rates and deficits in public budgets have fallen. If there have been signs of weakness in the incoming order statistics for several months, this is no reason to fall into hectic actionism.

No

inflation was already in double figures and rising when this government took office. prices had more than doubled in five years.

No

the chancellor tried to bury the realityor should i say burnley?[interruption.] you will get that one in the end. it is less levelling up and more hiking up: hiking up taxes, hiking up the cost of living, hiking up interest rates and inflation. the only thing it is not hiking up is growth. after 10 years of stagnant growth and stagnant wages, the forecasts for the next few years make yet more sober reading, with growth downgraded to a meagre 1.3% in 2024. taken together, the rising cost of living, along with rising taxes, inflation and interest rates, mean that families will be worse off to the tune of 3,000 a year. you simply cannot claim an agenda of levelling up while presiding over an era of no growth and ordinary working people becoming worse off.

No

The Hartz IV rate remains unchanged at 347 euros per month, which is already too little to live on. But even this small amount of Alg II falls from year to year because it is not adjusted to price increases. fifth.

No

for the average household in ards and north down, that equates to an increase a 1.35 per month, and they get all the things i have mentioned and a lot more for that money. the council has attempted to stay as close to the inflation rate as it possibly could, while still providing an acceptable level of service provision.when we look at the decision that the secretary of state is making today, we understand the reasons why she has put it forward and why it must be done. i know that the secretary of state will say that we pushed and pushed her to take the decision, and we are very pleased that she has done so.for the record, may i commend the secretary of state for her answers during northern ireland questions today?

No

opposition hon. members have shown no enthusiasm for any success in negotiating a further stage of the pay agreement, and they have given no support to the government's efforts for reducing inflation.

No

these interventions will also free up new resources, as well as meeting the needs of the country's weakest classes. interventions are planned in favor of consumer citizens and I am referring to the sterilization of VAT on the increase in fuel prices, to a real and real portability of mortgages without charges for those who want to renegotiate them, to class action. with regard to this last institution, we would have preferred rules aimed at further broadening the number of beneficiaries, but we are satisfied that a provision has not been included that prevents the rule from being retroactive.

No

if success on appeal against applications made before 6th november last and ordered by the panel to take effect from the date of application, as in due course of law they would be. are nevertheless set aside by the rent officer in view of the counter-inflation legislation, what is the point in these people appealing? is the chancellor aware that value added tax is already giving a major new boost to price inflation, running at 8 per cent., over which he is presiding, and that, according to his right hon. and learned friend the minister for trade and consumer affairs, in the first few days after the introduction of the tax there were 11,000 complaints that retailers were taking advantage of it to make unjustified price increases?

Yes

for example, the hon. lady says that businesses in westminster are facing rate rises of 10 per cent., but our calculations show that, with inflation and relief, none will face more than 3 per cent. does the secretary of state accept that if his government go ahead and scrap the 15 excess payments of local housing allowance, all that will result is rent inflation and no savings to the public purse? will he agree to work with his colleagues in the department for work and pensions to rethink the proposal? are the government concerned about the miserable return that savers, many of them elderly and relying on their savings, get for the investments that they have in banks and building societies, which scarcely covers inflation and the tax that they may have to pay? i am fairly relaxed about amendment 57.

No

i have accepted that for a long time. however, i ask the house to realise that universal indexing is the road to further inflation and thus to more unemployment. i am grateful to the hon.

No

gentleman's local authority will receive a 2.4 per cent. increase in its ssa under these proposals, which is well ahead of inflation and pay increases. the hon.

No

we believe strongly that the development will mark yet further progress in health care facilities for ayrshire and arran. just as the new hospital will be geared to meet the health needs of east ayrshire, so has the scottish office made sure that the same principle holds true for the people of the whole of ayrshire and arran by ensuring that they receive funding much higher than inflation, and above the national average. i thank the hon.

No

Given the current state of research, it must be clearly stated that plant protection is necessary to increase the quality and quantity of food. Otherwise, consumers would have to accept significant production losses and, above all, price increases. Minor residues of pesticides on fruit and vegetables are of concern to the consumer, Dr.

No

the oecd has also found that growth is very much linked to the education of the poorest. the government's ambition is simply to get education spending up to 2010 levels by 2024, but they will not even achieve that because of inflation. coretta king famously said that poverty is a child without an education.

No

if there is any doubt [interruption.] i had only a little time to do a back-of-the-envelope calculation today, but i have calculated that 3.40 an hour in 1992 would be 4.26 an hour now. is that the figure, or was 3.40 in 1992 too high and therefore 3.40 today would be adequate, even allowing for inflation? or is there another figure?

No

with regard to the first part of the question, it is not a green paper that will be produced but a consultative documentunder the terms of the counter-inflation (temporary provisions) act 1972 that is what is requiredand it will be debated in the house of commons. with regard to the second part of the question, it is this government who introduced investment relief.

No

either the government are serious or they are not serious about their intentions. my amendment contains a purely arbitrary figure of 4,000 fine, and that would take account of the very inflation at which the bill is aimed. the government err in the opposite direction.

No

you tell us, and it has little to do with the topic, that in fiscal matters we have made catastrophic predictions. you use truculent terms of this kind, but here is what we have always said, simply: the government's fiscal policy would have damaged the development of the economy - and tell us if this is not true, given that our rate of development is half that of Europe -, it would not have allowed unemployment to fall - ours is the highest in Europe - it would have led to inflationary pressures - our inflation is double that of France and Germany - and it would have damaged the competitiveness of our economy (we are losing share on the world market). I don't care whether these results are catastrophic or not, but they are there to say that this policy has been a failure.

Yes

as my right hon. friend said, he has increased the subsidies very considerably, not only in line with inflation, but ahead of it. that has been deeply appreciated by my constituents and others.

No

schäublisch. Reliefs and improvements in child benefit essentially only represented an insufficient correction of the secret tax increases caused by the interaction of inflation and tax progression. However, in the opinion of the opposition, such secret tax increases would have to be corrected from the additional revenue from these secret tax increases.

No

, Minister of the Treasury. if the modification is intended to ask the government to <<govern>> the system of administered price tariffs, orienting it below the planned inflation rate, the government has no difficulty in accepting the agenda, in its new formulation. stefanodeluca.

No

the rise did not keep pace with the cost of living. the government are trying to con people by saying that it is all right if the pay increase keeps pace with the target rate of inflation. that is not the real inflation rate. the minimum that the government must do is pay the real inflation rate let alone make up for the money that was not paid last year. in case the minister says that it is all very well for liberal democrats to say that, but it is a huge sum of money, i remind him that the difference would have been 111 million and that the nhs budget is some 45 billion.

No

i should have thought that he would welcome the fact that there was a floor to protect authorities from suffering a cut. i should have thought that, rather than being disappointed with a floor of 3.5 per cent., he and his constituents would be pleased that the government have ensured that there is an above-inflation increase for the authority, which would not otherwise have been the case, because of census information.i entirely acknowledge my hon. friend's point that hammersmith and fulham performs well, and we look forward to seeing the result in the comprehensive performance assessment issued by the audit commission next week.

No

friend knows very well, i believe that our recovery dates from before our exit from the exchange rate mechanism. the circumstances that i am describing, however, are due to the government's policies on taxation, public spending, inflation and deregulation over the past three or four years. those are clear policies on which all members of the conservative party are agreed.

No

the chancellor of the exchequer told us that the tax take, as he calls it, was lower than forecast. he blamed that on lower inflation. the fact is that the tax take is lower than expected because unemployment is high.

No

in view of the excuses produced by the prime minister this afternoon on the subject of unemployment, may i ask whether he has forgotten that his party and his right hon. friends fought the october 1974 general election on the basis that unemployment was under control and that inflation was coming down? were they perhaps not telling the truth then?

No

- Just a moment, Mr. shuddered. If the inflation rate is lower in April than in May, if it is also lower in January, February and March and if it is expected to fall again in the autumn, one cannot assume that the one-off inflation rate in May is 3.5 percent will also form the annual average. - The 3.5 percent occurred once this month, but that is not the annual average.

No

the whole cabinet is completely determined to carry through the programme on which we were elected, and we propose to do so. that means low inflation, less regulation, low interest rates, strong defence, an active foreign policy and moving europe in our direction. there is complete unity on that matter, much to the dismay of the right hon.

No

a number of hon. gentlemen raised the problem of inflation. this point was made by the hon.

No

i will not give way.i have deliberately spent some time talking about why the balance of funding review is important and why it has real and serious problems to tackle. this is a key factor behind high council tax and behind the decade of above-inflation council tax rises that we have just seen. the review is critical because we need to improve accountability.i want to end by outlining our solutions for the balance of funding review.

Yes

has he yet made up his mind and, if so, will he take the opportunity of today's debate to give the country the answers to those fundamental questions? of course, we shall have an inflation target. if the hon.

No

it exudes ignorance, it is couched in half-truths, it reeks of humbug and we should reject it with contempt. resolved, that this house congratulates her majesty's government on policies which have achieved the highest rate of economic growth in the european community, the largest increase in manufacturing productivity of any major industrial country, and record levels of industrial output, investment and exports; welcomes the continuous fall in unemployment for 42 months, and the creation since 1983 of nearly three million jobs in the united kingdom; and commends the resolve of her majesty's government to bear down on inflation and to continue with the supply side policies which have contributed to these achievements. we applaud the manner in which president ortega accepted the result of the elections.

No

is the prime minister aware that if he wishes genuinely to get down inflation, he must get down government borrowing? the real reason for the increase to 14 per cent.

Yes

i think the minister will agree that the figure he has given is considerably lower than the average increase in earnings over that period. that must mean that many small businesses have been driven by inflation into paying the levy on account of inflation and not on account of being able to benefit from the work of the training boards. in fixing future levy rates, will the hon. gentleman ensure that exemptions for small businesses are adequate to take account of inflation?

No

it is a plain fact that under the then chancellor of the exchequer public sector prices were kept down and that there has had to be a catching-up process. however, i entirely agree that if it turned out that there were wage settlements on the railways that were out of line with the rate of inflation, there would be very serious consequences for fares, the number of passengers, and jobs.

No

i considered that carefully when i was chancellor. indexing of gilts will make sense only if it is believed that inflation will stay indefinitely in double figures. to index gilts would be a confession that the fight against inflation had been given up. that is my personal opinion, although i know that it is not one that is unanimously shared in the city.

No

6 per cent.lower limit of profits or gains3,150 a year300.00 3,450upper limit of profits or gains10,000 a year1,000.00 11,000class 3 rate3.30 a week0.353.65* in particular, the movements in earnings and benefit rates.† inclusive of national insurance surcharge (3.5 per cent.) payable under the national insurance surcharge act 1976 as amended by the finance act 1978 and redundancy and maternity pay fund allocation (0.2 per cent.) annual profits or gains 1981 82 changes on account of inflation increases on account of change in nhs allocation and treasury supplement 1982 83 3,450194.05+18.20 1955,000283.17+0.953.882887,800444.17+0.9510.8845610,000570.67+0.9516.3858811,000570.67+58.4518.88648 i am delighted that my hon.

No

mortgage interest rates have no effect, apparently, on the housing problem, yet we know that they are hitting people badly if they are trying to buy for the first time or if they are trying to sell and buy another house. they are also having a grossly distorting effect on the housing market because of the combination of house price inflation over a number of years which will resume again in due course and a distorted subsidy system, brought about by the cut in subsidy to the rented sector. it is that which has created the chaos that the government have inherited.

No

I was a collective bargaining politician for 20 years. I would never have agreed to a collective agreement that would last for three years in the light of unforeseeable inflation. If inflation occurs, then the 8.50 euros in 2018 will probably only be worth as much as 7.50 euros today. What do you say to your member when he asks you: Why are you making this determination for three years when at the same time there is a majority in the German Bundestag in favor of a minimum wage of 8.50 euros on January 1st?

No

because of the success in and of our economy, it has been possible to provide social security expenditure at levels 40 per cent. above inflation. from listening to the speeches of labour members, this bill and the trend that i hope it will start on the subject which it addresses is clearly a point of philosophical division between us.

No

i arrive at that conclusion on the basis of the retail prices index. headline inflation is running at 1.7 per cent., and seen against that, a 1.5 per cent. increase does not seem too bad. it is only 1.7 per cent., however, because of a big drop in mortgage rates. the underlying rate of inflation is 3.4 per cent., and soldiers, of course, tend not to have mortgages. so the government are in effect reducing the pay of our soldiers by almost 2 per cent.

No

h. So the price index from 1960 to the first half of 1970 is: the price increases in this period amount to 25% in the manufacturing industry, 35% in trade and transport, 80% in the service sector, 58% in the construction industry, and 19% in the energy industry % and in agriculture and forestry by 11%. That's basically what it's about.

No

a customer may be sitting on a large cash balance for many months, well above their normal three-month outgoings. they could get an alert to warn them about the detriment to the value of cash as a result of inflation and to narrow down some suggestions for getting a better deal for their cash. with many of our constituents, particularly our elderly constituents, there is a lot of inertia because they are not receiving very much on their deposits.

No

putting them together, the effect of the proposals would be different! there could be someone who was against the vote of the individual parts and who would agree or, at least, express a different evaluation if the additional article voted for separately was added to another amending proposal; for example, on the one hand the issues of Istat's tasks and, on the other, the question of the possibility of canceling the inflationary effect resulting from the failure to recover the fiscal drain. obviously this question is interpretable, as has been said, and the decision has been communicated.

No

of industrialists believed that a labour victory at the next election would be bad for the economy? they believed that inflation would go up and that interest rates would go up, which would clearly lead to higher unemployment in yorkshire and humberside. if we compare this stage in the economic cycle with the previous stage, we see that output is up a quarter, investment is up a third, productivity is up a half and exports are up three quarters. [interruption.] opposition members may not like it, but we will keep saying it. one thing is absolutely clear: why should manufacturing industry benefit from a quadruple whammy with higher costs, higher prices, higher inflation, a minimum wage and more red tape? that is the question that the opposition need to answer.

No

624, c. 1056.]so far, i have been completely disappointed.in scotland, our government have recognised the combined impact of inflation and wage stagnation, and we have committed to removing the public sector pay cap. that is part of the reason why we voted with the labour party on termination payments.

No

of course, I confirm what is written in the report, that is, that the government will in any case undertake to explore in parliament and with parliament every possibility of strengthening the investment policy without attenuating the framework of rigor that reality imposes on us. of course, I confirm that the government, within the same framework, will work towards a reduction in the cost of money, in line with the reduction in inflation, and above all in the intermediation margin between banks' lending and borrowing rates. we confirm this.

No

there is no doubt that the two innovations introduced at the beginning of this parliament have produced impressive economic results, which my right hon. friend was able to announce in his budget the lowest inflation for 30 years, the lowest long-term interest rates for 35 years, and the lowest unemployment since 1975. the government had a two-year period in which they stuck to the conservative spending targets.

No

it is evidently not possible to introduce additional tax measures on small properties and invoke new private investments in the sector. Furthermore, the proposals for home savings must be taken up and defined, so as to encourage the monetary resources currently existing in families, which are being heavily worn out by inflation, towards this destination. from this perspective we see as a risk, as a serious risk, the proposal to entrust the municipalities with new taxation capacities on a fiscal level, which should affect the already taxed small property.

No

he paid lip service to the need for monetary control, but then he complained that the government's monetary policy was too restrictive and that the psbr should be increased. at least he is consistent because now he wants both monetary and fiscal policies to be inflationary. how high does he want the psbr to be?

Yes

i am sorry; i must disagree with the right hon.

No

We think it is good and right that the current input volume of 33 million tons is gradually increased to 47.5 million tons per year. We want and must support this contract, and that is why we are in favor of extending the additional cost compensation compared to heating oil until 1995, although we assume that the gap will close more and more quickly due to the price increases for oil. We think it is right that a third of the current amount of German coal should be reduced to the price of imported coal.

No

the business for next week will be as follows: monday 27th januarysupply [8th allotted day]: there will be a debate on standards in education, when the appropriate votes will be before the house.

No

there are a number of reasons why i believe this to be so. the first is the fear of inflation and the second has been the availability of funds from building societies which over the last few years has probably been much greater than ever before. this has enabled people to pay almost unlimited prices for properties and to be reasonably sure of getting funds with which to buy them.

Yes

in fact, it is also financed through long-term borrowing, and our long-term interest rates have not moved nearly as much as short-term interest rates. a firm exchange rate and adequately high interest rates are absolutely essential in keeping on top of inflation and getting inflation down. indeed, the right hon.

No

it has not been possible for four years and it is still not possible. it is only possible to introduce sanctions as part of their counter-inflation policy because they believe that wages create inflation, and therefore they must control wages. they are not prepared to use sanctions on oil companies which say that unless they get the right returns they will not bother to exploit north sea oil. the government simply continue to suck up to those oil companies. the hon.

Yes

a moment ago i mentioned the psbr. that is an element of considerable concern in connection with our domestic levels of inflation and interest rates. even after what the opposition have charged as excessive cuts in public expenditure, the psbr anticipated in the budget was .8¼ billion, and it is likely to be a little greater at the outturn of the year.

Yes

we saw today's data. we are here on "an aid decree", which deals with the issues arising from the high bill, the energy crisis and inflation, while, unfortunately, the covid data tell us that the pandemic emergency is not over yet. It's not that because we stop talking about it, it's no longer there.

No

i therefore look forward to a sustained fall in the number of our people out of work. if we are out of the recession, why does page 17 of the red book forecast lower growth and higher inflation for next year? every other finance ministry in europe is forecasting increased growth for 1995 1996, yet the red book says that our growth will decrease.

No

on the public spending front, we believe the maneuver proposed to us is necessary, and we are also convinced that privileges and waste, still present in our system, must be eliminated without complacency. alongside the containment of the public deficit and its progressive reduction, it is necessary to adopt measures aimed at encouraging the growth of the national product: only this policy can allow for lower inflation and greater employment. different economic policies are not possible because they are illusory and ephemeral.

No

sound economic policies and a realistic social policy have been the key to that important change. the essential safeguard for pensioners' living standards will always be a growing economy, able to pay for the services and benefits that the elderly need, coupled with the firm control of inflation to protect pensioners' savings. the policies of the past 10 years have helped pensioners on both counts, spreading greater prosperity to more pensioners than ever before.

No

it is effective against speculators and it thus has great advantages over a free floating currency, because the free float virtually excludes anything which can be called an exchange rate policy. there can be no doubt that much of the recent deterioration in our balance of payments and a great deal of recent inflation has been due to the somewhat anarchic movements of the exchange rate of the pound. a large part of this problem could have been avoided had we adopted the managed float by means of crawling pegs instead of the free float.

Yes

unless the government today says << okay, we will reduce >>, which reminds us of << we will see, we will report to our august brother >>, and then in reality do nothing. I would like above all to believe the words of the Honorable Colombo, which apparently must be interpreted in the sense that the reduction in the increase in the price of petrol will take effect from 1 January 1972, but I cannot help but point out that I am still waiting the reimbursement of the increase in the price of petrol implemented with the decree-law issued during the flood in Florence. if I remember correctly, in fact, some terms were established in that decree but, in reality, we all continued to pay the increase in petrol.

No

the third area of concern under labour was attitudes. there was high inflation, low growth and deteriorating industrial relations. job flexibility was destroyed and the strike record was worse than anywhere in europe.

No

it would be a mistake to rush precipitately into the narrow bands of erm. we must bring inflation well down before doing so. if we move too quickly, realignment may be forced upon us. that would bring inflationary pressures, because imports would cost more. we should stay on course.

Yes