HC Deb 11 December 1968 vol 775 cc395-6
3. Mr. Sheldon

asked the President of the Board of Trade what estimate he has made of the level of manufactured imports in the fourth quarter of 1968 and the first quarter of 1969.

Mr. Dell

I would not wish to make an estimate so soon after the adoption of the new import deposits scheme.

Mr. Sheldon

I understand the reason for that reply, but will not my hon. Friend agree that it is here where the greatest cause for concern in our balance of trade figures lies, and would he not consider that in a month or two, after study of the way in which the import deposits scheme is working, it may be necessary to come to the House with further measures?

Mr. Dell

The situation in respect of imports has been less favourable than the Government anticipated earlier this year, but my hon. Friend should not exaggerate the situation. A comparison of the June-October figures with the February-May figures shows that there has been only a moderate increase in the import of manufactures, including semi-manufactures, amounting to about 2 per cent.

Mr. Biffen

Did not the Government make an estimate before the introduction of the import deposit legislation, and was not that estimate necessary to enable the legislation to be brought forward? Why cannot the House be told about that estimate?

Mr. Dell

The effect of the import scheme was discussed when the legislation was being passed through the House. It was made clear that the Government were not prepared to give any estimate of this. They judged the effect on imports to be marginal, but certainly not negligible.