§ 63. Sir W. Robson Brownasked the President of the Board of Trade his estimate of the extent to which our competitive trading position overseas has been affected since 1950 by the internal rate of inflation in the United Kingdom.
§ Mr. Walker-SmithIf our costs had not increased we should have had a larger export trade, but it is not possible to make any quantitative estimate of the trade lost through inflation. I should however point out in this context that there is some evidence that our prices have been on the whole in line with those of our competitors; but the effects of inflation are of course not limited to prices.