Monetary policy will remain firmly directed towards producing an expansion of money and credit that will permit balanced growth of the economy in conditions of broadly stable prices. The rise in the incomes of those already working must not hinder the creation of employment. A smaller absorption of saving by the public sector will make resources available for investment.
These are the conditions for removing the most acute, most socially unacceptable, forms of unemployment, which have been aggravated by the events of the last few years. They will allow a host of young people with qualifications and a desire to contribute to the development of our economy and society to become active members of the labour force.