§ 40. Sir C. Osborneasked the Chancellor of the Exchequer on what evidence he assesses that there will be a decline in world trade; and since Great Britain will suffer more than any other nation from such a decline, because of its need to export 30 per cent. of all it produces to pay for its imports of food and raw materials, what fresh initiative he will take to increase public awareness of the consequent danger of unemployment unless prices decrease and quality of goods increases; and if he will make a statement.
§ Mr. CallaghanAssessments of the likely development of world trade are derived from estimates of the future level of economic activity in the main trading countries and other relevant factors. The prospects are of continuing expansion of world trade, although possibly at a slower rate.