HC Deb 26 January 1978 vol 942 c748W
Mr. Woof

asked the Secretary of State for Trade what estimate he has made of the effect of the movement of major currencies on the relative competitiveness of British exports.

Mr. Meacher

It is not readily possible to estimate the effect of exchange rate movements on the competitiveness of United Kingdom exports, however defined. Nevertheless, our competitive position is likely to be reduced as a result of an appreciation of the pound.