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Demand Management

Volume 885: debated on Thursday 30 January 1975

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asked the Chancellor of the Exchequer if he is satisfied that the present methods of measuring the pressure of demand provide the accurate data necessary for efficient demand management; and, if not, what steps he is taking to develop more accurate methods.

There is no unique way of assessing the pressure of demand at either the national or the individual industry level. A wide range of approaches is used by the Government in gauging both the pressure and pattern of demand and supply. These techniques, both quantitative and qualitative in nature, require careful interpretation. I fully appreciate the need to develop further the Government's ability to monitor the pressure of demand.