HC Deb 15 May 1968 vol 764 c247W
55. Mr. William Hamilton

asked the President of the Board of Trade to what extent imports have increased in volume and in value since devaluation; and what new initiatives he is taking to reverse this trend.

Mr. Crosland

Comparing the middle quarters of 1967 with the five months since devaluation, the volume of imports increased by 10 per cent. and their value by 22 per cent. I am confident that the many measures already taken both to secure the necessary transfer of resources into export and import-saving industries and promote industrial efficiency will put the balance of payments on a sound footing.