§ Mr. McNamaraasked the Secretary of State for Defence if he will publish in the Official Report the estimated cost of the Trident programme at a sterling to dollar exchange rate of $1.25 to $1.75 to the pound sterling in bands of one cent.
§ Mr. PattieNo. Exchange rates remain subject to frequent change and it would not be realistic to assume a constant rate throughout the long period of Trident's procurement. The dollar exchange rate used by the Department in compiling estimates for the coming financial year was $1.53 to the pound and for this reason that rate was used by my right hon. Friend, the Secretary of State for Defence in presenting last week's revised Trident estimate of £8,729 million. Approximately 45 per cent. of this estimate represents dollar spend.