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Volume 655: debated on Thursday 15 March 1962

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asked the Chancellor of the Exchequer what effect the pay pause has had upon British exports.

The object of the pay pause was to halt the increase in costs of production and thereby to improve our competitive position in world markets. There is good reason to believe that this has been happening, though it takes time for changes in the trend of costs to work through fully to prices and trade. We are certainly now in a better position to take advantage of the opportunities which increasing world trade should open up.