§ 3.54 p.m.
§ LORD SHEPHERDMy Lords, I wish to repeat a Statement that has just been made in another place by my right honourable friend the Chancellor of the Exchequer; and I will use his own words:
"The measures taken in the Budget to correct the balance of payments deficit are beginning to take effect. This year's balance of payments deficit is likely to be well below half last year's figure. To ensure that we reach our aim of eliminating the deficit in the course of next year and of maintaining the strength of sterling, the Government have decided to adopt the following measures.