HC Deb 15 July 1993 vol 228 cc646-7W
15. Mr. Jim Marshall

To ask the Chancellor of the Exchequer what plans he has to reduce the balance of payments deficit.

23. Mr. William O'Brien

To ask the Chancellor of the Exchequer if he will make a statement on the balance of payments.

Mr. Portillo

The key to reducing the balance of payments deficit is improving our competitiveness. The Government have facilitated this by getting inflation down to its lowest for a generation. Unit wage costs in manufacturing are falling while they are rising in many of our main competitors. The Government have also taken specific action to assist exporters, such as extending Export Credits Guarantee Department cover.