§ Mr. Llew Smith
To ask the President of the Board of Trade what evaluation he has made of the Trade and Development report 1994 produced by the United Nations Conference on Trade and Development in September; and whether he plans to make any response to the UNCTAD secretariat in respect of criticisms made of European Union trade policies in the report.
§ Mr. Ian Taylor
UNCTAD's 1994 trade and development report did not specifically address European trade policies. It did assert that industrialised countries should adopt more expansionist economic policies in order to stimulate global demand. In general we agree, but this approach needs to be in the context of consistent policies to reduce inflationary pressures in industrialised economies. This point was made during a recent meeting of the UNCTAD Trade Development Board in Geneva.