(S (S (S (BASENP (PRP we)) (VP (VBP have) (NP (BASENP (DT a) (NNS wages) (NN policy)) (PP (VBN based) (PP (IN around) (NP (NP (BASENP (DT an) (NN increase)) (PP (IN of) (BASENP (NN 3.25) (NN per) (NN cent)))) (CC and) (NP (PRN (COMMA ,) (PP (IN above) (BASENP (DT that))) (COMMA ,)) (BASENP (NN productivity) (NN offset))))))))) (COMMA ,) (S (BASENP (PRP he)) (VP (VBD told) (BASENP (NN parliament))))) (PERIOD .))