§ Mr. Deakinsasked the Chancellor of the Exchequer what criteria he uses to assess the international competitiveness of the United Kingdom economy.
§ Mr. Peter ReesBroadly interpreted, "international competitiveness" refers to the ability of a country's producers to compete successfully both in world markets and in its own domestic market. As such it goes beyond the narrower concept of price or cost competitiveness, to encompass such "non-price" factors as quality and design, delivery, and after-sales service. A range of criteria has to be used. The problems which arise in measuring and assessing competitiveness were discussed in the July 1983 issue of the economic progress report.