§ 9. Mr. ThomasonTo ask the Chancellor of the Exchequer what is his assessment of the current trend in retail sales and their impact upon the economy.
§ Sir John CopeRetail sales in the latest three months were 3.25 per cent. higher than a year ago, and have now been on an upward trend for a year.
§ Mr. ThomasonDoes my right hon. Friend agree that, while that is extremely good news for the British economy and very bad news for the Labour party, it is important that British industry now takes the opportunity to expand its export trade, backed by a stable pound?
§ Sir John CopeI entirely agree about the importance of exports. Clearly retail sales figures show the opportunities at home, but a good home market is the foundation for exports and that also should be pursued.
§ Mr. BennettGiven that the Government are now claiming that the recession is over, when will they apologise to all the victims of it? What specific help can they give my constituents, particularly engineers who lost their jobs in their late 50s and still see no prospect of ever getting another job, people who have had their homes repossessed and see no chance of ever being able to buy another home, and young couples who are stuck in high-rise flats with small children and with little or no prospect of getting a home away from those flats?
§ Sir John CopeMy right hon. Friend has already made it clear this afternoon, as well as on previous occasions, that the depth of the recession here has not been nearly as bad as in other countries. I am not quite sure whether the hon. Gentleman expects me or any other Conservative Member to apologise for the performance in other countries as well as in Britain. Of course, a recession is very difficult for a lot of people and that is why it is important that we are now moving out of it. All the figures that we have been discussing this afternoon are positive and encouraging for all of us.