HC Deb 17 May 1976 vol 911 cc337-8W
Mr. Sillars

asked the Chancellor of the Exchequer which other OECD countries, as well as the United Kingdom, have fashioned policies for economic recovery based on export-led growth; and if he will estimate the growth required in world trade to meet the combined export efforts of these countries.

Mr. Robert Sheldon

Most of those other OECD countries with current account imbalances would naturally regard increases in net exports as a desirable policy objective. These include, for example, Italy and a number of the smaller countries. But these objectives are seldom expressed in terms of precise targets and it is therefore impossible to estimate the required growth in world trade which would be necessary to satisfy them.