§ 29. Mr. RowlandsTo ask the Secretary of State for Trade and Industry what assessment he has made of the impact of current interest rates upon the manufacturing sector. [55087]
§ Mr. BattleThe Government recognise that the level of the pound and, more recently, the impact of financial difficulties in Asia, have been causing problems for exporters and manufacturers. However, the Government's economic policy framework will create long-term economic stability and ensure that we do not return to the boom and bust cycles which have done so much damage to the United Kingdom's manufacturing sector in the past.
§ 31. Mr. FlynnTo ask the Secretary of State for Trade and Industry what assessment he has made of the effects of current levels of interest rates on the profitability of Britain's industry. [55089]
§ Mr. BattleThe Government's economic policy framework will promote long-term economic stability, and break with the cycle of boom and bust, and so establish the conditions for the long-term profitability of British industry.