HC Deb 25 June 1957 vol 572 cc5-6
11. Mr. Edelman

asked the President of the Board of Trade whether his attention has been drawn to the high rate of imports in May, compared with that of exports; and whether, in view of the inflationary danger arising from this, he will take suitable measures to harmonise the relative rate of increase in a manner more consistent with the national interest.

Mr. Walker-Smith

Yes, Sir. Some increase in imports was to be expected with signs of rising activity in industry and the recent recovery in oil imports. We shall continue to watch developments closely.

Mr. Edelman

Despite the right hon. and learned Gentleman's reply, is he aware that whereas exports have increased by only 6 per cent. in the last two months compared with the previous year, imports have increased by 11 per cent.? Is he aware of the trade gap of approximately £60 million, and are not these very dangerous signs of which he should take notice?

Mr. Walker-Smith

The facts are that exports this year are 4 per cent. higher so far, following on a 6 per cent. increase last year. These are volume figures. Imports so far this year are also 4 per cent. higher, following upon a period of stability last year. We are, of course, keeping an eye on these figures, but I would not read into them necessarily all that the hon. Member invites me to do.