§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what estimate he has made of the effect of the Government's monetary and exchange rate policies since 1979 on the UK share of exports of manufactures by the main manufacturing countries. [29442]
§ Mr. NelsonThe UK's share of exports of manufactures by the main manufacturing countries depends on a variety of factors, including competitiveness and export profitability. It is not possible to isolate with any confidence the effects stemming from monetary and exchange rate policies. However, the Government's commitment to deliver permanently low inflation will provide a stable climate within which British manufacturing can compete successfully, in both world and domestic markets.