§ 6. Mr. Martenasked the Secretary of State for Trade what is the balance of trade deficit with the Common Market since Great Britain joined.
§ 23. Mr. Bodyasked the Secretary of State for Trade if he will make a statement about the present balance of trade deficit with the rest of the EEC.
§ Mr. MartenWhile I do not wish to rub salt into the festering wound of the Common Market, may I ask the right hon. Gentleman whether it is possible to identify invisibles in our trade with the Cmmon Market? It seems to me that without their being brought into account in our trading with the Common Market the figures do not present a very true picture. 6 The last time invisibles were detailed, there was a deficit with the Common Market.
§ Mr. ShoreAn area breakdown of our invisible trade with the EEC is not yet available, so I am advised. I assume, however, that if invisibles are interpreted broadly they will have to take into account the contribution we make to the EEC budget. That is a large and growing deficit factor.
§ Mr. George LawsonWill my right hon. Friend confirm that British export trade with Common Market countries is twice as much as our export trade with the whole of the Commonwealth? Will he be careful, in his zeal for renegotiation with the Common Market countries of terms for our continued membership, that we do not irreparably damage such an important part of our trade?
§ Mr. ShoreI assure my hon. Friend that, regardless of the final relationship between Britain and the Community, I shall always wish us to have a growing and sensible trade access and relationship with the Common Market countries. I ask my hon. Friend not to minimise the still very substantial importance to us of our traditional Commonwealth trade.