§ 86. Sir G. Nabarroasked the President of the Board of Trade how the total British exports in 1967 compared,ad valoremand percentage growth or otherwise, with 1966; what estimate, having regard to devaluation of sterling, he has made for total British exports in 1968; and what steps he proposes to take to offset the discouragement to British exporters caused by withdrawal of the exports incentive, excepting the European Free Trade Association, averaging 2 per cent.
Mrs. Gwyneth Dnnwoody:Exports were slightly lower in value last year than in 1966; I expect a substantial increase in the sterling value of our exports this year. As regards the last part of the Question, devaluation is in itself a much more powerful incentive to exporters than the export rebate.