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Medium-Term Prospects

Volume 929: debated on Tuesday 29 March 1977

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I turn now to our prospects in the medium term. The immediate situation provides a solid foundation on which we can build a return to full employment and a steadily improving standard of life. Whether we achieve these objectives, and how fast, will depend partly on improvements in our own economic behaviour, partly on developments in the world economy. None of the improvements we need is impossible, but none is certain either. All depend on acts of will.