§ 24. Mr. Dobson
asked the Chancellor of the Exchequer by what percentage, between May 1979 and the latest available quarter, the United Kingdom's relative competitiveness has worsened.
§ Mr. Wakeham
Between the second quarter of 1979 and the first quarter of 1981, the IMF's indices of relative unit labour costs showed a worsening of manufacturing cost competitiveness of some 40 per cent. Subsequently there has been an improvement of about 10 to 15 per cent., leaving manufacturers, in the first quarter of 1982, some 25 to 30 per cent. less competitive than in the same quarter of 1979.