§ 25. Sir C. Osborne
asked the President of the Board of Trade, in view of the fact that British exports have increased at the rate of 6 per cent. per annum owing to the effect of the Vietnam war on the economy of the United States of America, by how much he estimates British exports will fall when the Vietnam war is ended; and what steps he is taking to prevent an industrial recession in Great Britain as a consequence.
§ Mr. Jay
Many factors contributed to the increase of 6½ per cent. last year in the value of cur exports. In addition to the expansion of sales to the United States, there were large increases in exports to Western Europe and to the Soviet bloc. Our export performance will continue to be determined by demand in all our many overseas markets and the efforts of our exporters, and not by any single factor.