Mr. Edward M. Taylorasked the Secretary of State for Defence what will be 454W the additional cost to Great Britain of its purchase of military aircraft and spares, etc., from the United States of America as a result of the devaluation of the £ sterling.
§ Mr. HealeyAllowing for the F111K offset agreement, the additional cost in foreign exchange is likely to average about £7 million a year.
§ Mr. Wallasked the Secretary of State for Defence what effect the devaluation of the £ sterling will have on the Royal Navy.
§ Mr. HealeyAs stated by my right hon. Friend the Chancellor of the Exchequer on 20th November, there will be an increase in sterling terms in the cost of purchases overseas and the pay of our troops. The precise effects have not yet been calculated.