§ Sir William Clarkasked the Chancellor of the Exchequer what impact the abolition of exchange controls has had on the United Kingdom's balance of payments position.
§ Mr. LawsonThe abolition of exchange controls will undoubtedly have affected the composition of the capital account and caused the exchange rate to be lower than it 717W would otherwise have been. Net outward capital flows will have to be increased to the extent that this lower exhange rate may have increased the current account surplus.