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Building Industry (Manpower)

Volume 975: debated on Monday 3 December 1979

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asked the Secretary of State for Scotland what estimate he has made of the effect of a 17 per cent. minimum lending rate on the ability of the building construction industry to maintain its current level of manpower and to meet the demands placed upon it in the coming year.

The present level of the minimum lending rate is necessary to bring inflation under control. Output and employment would suffer more in the longer term if this objective were not achieved.