§ 38. Mr. Allan Robertsasked the Chancellor of the Exchequer what effect the level of interest rates and of the exchange rate has had upon the international competitiveness of the British economy.
§ Mr. HayhoeInterest rates and the exchange rate are just two of the many factors that determine the ability of United Kingdom producers to compete successfully at home and abroad. The extent to which changes in interest rates and the exchange rate affect competitiveness will be influenced by the extent to which they induce changes in other factors such as productivity and wages.