National Income
(asked on 9th March 2015) - View Source
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 2 February 2015 to Question 222161, if he will make an assessment of the link between the further boost to UK GDP and wage rises; and if he will make a statement.
This question was answered on 12th March 2015
The recent oil price fall will have a positive impact on UK GDP, which grew faster last year than in any other major advanced economy. In the long run the growth in real wages is determined by productivity. At Autumn Statement the OBR forecast productivity to rise in every year to 2019, alongside sustained growth in average earnings.