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Industrial Competitiveness

Volume 33: debated on Tuesday 7 December 1982

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asked the Chancellor of the Exchequer to what factors he attributes the loss of industrial competitiveness over the last three years.

The loss of competitiveness is due to the fact that over the three years to 1982 Q2, United Kingdom labour costs rose 15 to 20 per cent. more in local currency terms than those of our competitors.