§ 25. Mr. Peter Walkerasked the President of the Board of Trade what study he has made of the reasons for the 4 per cent. increase in exports during 1964.
§ Mr. JayOur export performance is under continuous study. An analysis of United Kingdom exports in 1964 was given in the Board of Trade Journal of 29th January, 1965; and a review of our exports in 1964 in relation to those of our main competitors will be published in this weeks' issue of the Board of Trade Journal.
§ Mr. WalkerAs a result of the President of the Board of Trade's study, can he tell us whether the Chancellor of the Exchequer was right in column 1277 of the OFFICIAL REPORT of 17th November in saying that our exports were virtually flat in 1964, whether the Government publications were right when they said that there was an increase of 4 per cent., or whether the President of the Board of Trade was right in column 1136 of the OFFICIAL REPORT of 29th November when he said that the increase was 5 per cent.?
§ Mr. JayAccording to the latest information which has been given to me, the figure is 5 per cent. The interesting point is that the figure was 5 per cent. in 1964, when there was a world trade increase of 15 per cent., whereas this year, with a world trade increase of 7 per cent., our exports have increased by 6½ per cent.
Mr. Gresham CookeHas the right hon. Gentleman noticed the great increase in industrial costs militating against an increase in exports in 1966?
§ Mr. JayAs the hon. Gentleman knows, we are pursuing an incomes and prices policy—I hope with the support of hon. Members opposite.