§ Mr. J. H. Osbornasked the Secretary of State for Economic Affairs why the projected total for imports at constant 1964 prices in 1972 on the basic case in Table 3.2 of The Task Ahead is higher than the comparable figure for 1970 in Table 7.1 of the National Plan, in the light of the effects of devaluation and the marginally slower rate of growth.
Mr. Alan WilliamsBecause we are assuming, on the basis of the experience of the last few years, a higher import propensity, despite devaluation, than at the time of the National Plan.