Manufactured Goods

HC Deb 19 December 1984 vol 70 cc293-4

21. Mr. Canavan

asked the Secretary of State for Trade and Industry what is the current balance of trade in manufactured goods.

Mr. Norman Lamont

In the first 10 months of this year there was a deficit of £3.7 billion.

Mr. Canavan

Will the Minister confirm that the Government's trading record is the worst in British trading history and is yet further proof of the abysmal failure of the Government's economic strategy? Is he not ashamed to be a member of such an inefficient, uncompetitive Government? Is it not time that the Department of Trade and Industry team resigned en masse so that Britian can regain leadership in world markets?

Mr. Lamont

The hon. Gentleman will have already heard the exchange of questions on this at Question Time. We have had a surplus on current account in each of the past four years. We would have had a surplus this year but for the miners' strike, and we expect a surplus on current account next year. That is a pretty good record.