§ Mr. Dickensasked the Chancellor of the Exchequer if he will state the effect on the balance of payments of the movement it the terms of trade in the year 1966, compared with the year 1964, and for the first nine months of 1967, compared with the first nine months of 1964.
§ Mr. CallaghanPrices of both imports and exports have risen although export prices have risen more than import prices. This has had an effect on the import capacity of some of our traditional markets in the primary producing countries and no precise estimate is possible of the net effect on the balance of payments.