§ 14. Mr. Russellasked the President of the Board of Trade what was the United Kingdom's share of the world's exports of manufactured goods in 1956; and what was the corresponding figure for 1937 or 1938.
§ Sir D. EcclesThe United Kingdom's share of the world's exports of manufactures was 21.9 per cent. in 1937 and is provisionally estimated at 19.0 per cent. in 1956.
§ Mr. RussellWhat does my right hon. Friend propose to do to remedy this 1730 continual decline in our share of world markets? Does he not think that our whole economic policy with reference to the General Agreement on Tariffs and Trade needs looking at, with a view to seeing whether this trade cannot be increased instead of being reduced?
§ Sir D. EcclesWhat matters, of course, is the balance of payments. I think chat my hon. Friend will also notice that the rest of the world is increasing in population rather faster than we are. Provided that we keep a share which results in a good balance of payments, I think that that is what we are after.
§ Sir D. EcclesI cannot say.