§ 20. Mr. John MarshallTo ask the President of the Board of Trade if he will make a statement about the level of exports over the past year. [16456]
§ Mr. NeedhamDuring the past year, British exports have broken all records, resulting in the lowest visible trade deficit since 1991. Exports are predicted to grow by a further 10 per cent. this year. In 1994, visible exports earned £135 billion, with volume and value up by 11 per cent. over 1993.
§ Mr. MarshallWill my right hon. Friend confirm that this is the first time that economic recovery in Britain has been export led? Does that not underline the fact that Britain's economic recovery is soundly based and we can look forward to another two and a half years of rapid growth?
§ Mr. NeedhamI hope that I can say to my hon. Friend that we can look forward to many years of export-led recovery, and that is a triumph for British industry and the British Government.