HC Deb 10 November 1971 vol 825 c188W
Mr. Leadbitter

asked the Chancellor of the Exchequer what steps he proposes to take to stop the fall in the purchasing power of the £ sterling.

Mr. Higgins

The indications are that the measures already taken by my right hon. Friend, the C.B.I. initiative, and the response of the nationalised industries, are succeeding in moderating the rise in prices. It remains essential, however, to secure a further reduction in the level of wage settlements.