HC Deb 21 March 2000 vol 346 cc524-5W
13. Mr. Swinney

To ask the Secretary of State for Scotland what assessment he has made of the effect of the level of sterling on Scottish manufacturing industry, tourism and agriculture. [114020]

Dr. Reid

The Government understand the concerns of organisations and businesses, particularly manufacturers trading within Europe, about the value of the pound. But it is determined to take a long-term view and it would be wrong to let short-term pressures lead back to policies that produced boom and bust in the past. Short-term fixes would be the biggest threat of all to industry, tourism and agriculture with the illusion of temporary relief followed by the reality of long-term damage.