HC Deb 13 December 1967 vol 756 c142W
Mr. Lubbock

asked the Secretary of State for Defence what changes in the offset agreement with the United States of America he will attempt to negotiate, so as to counter the effects of devaluation.

Mr. Healey:

As I told the House on 27th November, 1967 the F111 offset arrangement is not affected by devaluation since the targets for direct sales to the United States and for co-operative sales to third countries are expressed in dollars. I am discussing other aspects of the arrangement with the United States Defense Secretary.