I would agree with the latter part of my hon. Friend's question in that it is satisfactory that wage rates should keep ahead of the cost of living. I am not quite so sure that I am as happy about the first part because of the short period over which it has taken place. However, if one equates it with the period January, 1963, to January, 1964, the annual rise is about 4½ per cent., which is within the rate of increase in productivity during that period.