HC Deb 13 July 1988 vol 137 cc275-6W
98. Mr. George Howarth

To ask the Chancellor of the Duchy of Lancaster what is the cumulative trade deficit in manufactures so far in the current year.

Mr. Alan Clark

In the five months ended May, trade on manufactures was in deficit by £5.2 billion.

Mr. McFall

To ask the Chancellor of the Duchy of Lancaster what is the cumulative trade deficit in manufactures so far this year; and what steps are being taken to improve it.

Mr. Alan Clark

In the 12 months ended May, the current account was in deficit by £7.1 billion. The trade balance can be affected by a variety of market factors, but the Government will stick to the firm monetary and fiscal policies essential to strong economic performance. Wherever practicable my Department is ready to give assistance to firms seeking to improve their competititive strength and trade performance, as, for example, through the recently introduced enterprise initiative.