§ 18. Sir C. Osborneasked the Minister of Technology how much motor vehicle imports have increased in number and value since devaluation; why these imports have not decreased; and what steps he is taking to make devaluation work in this respect.
§ Mr. FowlerTotal vehicle imports in the four months December 1967 to March 1968 were 46,560 valued at £22,914,000. This compares with 26,864 vehicles, valued at £12,233,000, in the corresponding months of last year. The increase is attributed to the strong consumer demand for all types of vehicles in recent months, and to stock-piling by foreign manufacturers, in anticipation of the Budget. Imports in March although still at a high level, were less than in February, and I am hopeful that from now on the greater competitive power of home-produced vehicles, as a result of devaluation, will reduce the demand for imports.