And it looks pretty clear that other suppliers like the Saudis - despite Iranian threats - are willing to step up to cover the additional output required.
But to boost output and income, a tax cut must be the right type -- one that cuts taxes "at the margin" on the additional income associated with additional output (supply).
This is because the additional output of the last worker hired falls by 12.5% (as he works fewer hours), but the cost of employing him falls by less than 12.5% because the fixed costs of employment are unchanged.
While the plant in question makes iPads, which are already in short supply, the thinking among Apple analysts is that any interruption in production will be brief, and in any case will quickly be replaced with additional output from another Hon Hai plant in Shenzhen.
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Chinese output rose due to additional supply from small to mid-sized mines, and output increased in Canada and Brazil.
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To maximise profits, a firm hires workers so long as the value of an additional employee's output exceeds the added costs that hiring him imposes on the firm.
The second way a payroll tax holiday is supposed to stimulate the economy is by making labor less expensive to hire, thus leading to additional hiring, more output, and increased incomes.
FORBES: Doubling Down on the Payroll Tax Holiday Still Won't Create Jobs
The September output figure was flattered by the value of Olympic ticket sales, while the additional bank holiday for the Royal Wedding also reduced output in the comparable period a year ago, the NIESR said.
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Reducing the payroll tax therefore raises the returns to work, which under normal circumstances should result in an increase in the supply of labor and an increase in total output, with employers offering jobs to the additional workers.
FORBES: Doubling Down on the Payroll Tax Holiday Still Won't Create Jobs
"Although inflation seemed likely to remain above the 2 percent target over the next two years, the degree of slack in the economy, and the likely positive response of supply capacity to increased demand, meant that higher output growth would not necessarily lead to any material additional inflationary pressure, " those backing another stimulus argued, according to the minutes.
It said if market demand was to increase, output could rise to 16, 500 homes - even without additional manufacturing premises.
Peruvian output rose at Huaron and Morococha as a result of investment the company made in additional underground development over the last 12 months, Burns said.
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