§ 34. Mr. Biffenasked the Chancellor of the Exchequer if he will commission a study to assess the comparative balance of trade experiences of Great Britain in relation to that of those countries that devalued their currencies at the same time that sterling was last devalued, based on information available to him from international sources.
§ Mr. Harold LeverNo. A detailed study of the experience of other countries would not be very illuminating. In dollar terms our exports rose faster in 1968 than those of most of the other European countries that devalued with us; but these countries sell a very different range of goods from us. Our imports also rose faster than those of most of the other devaluing countries, although in the United Kingdom's case there was more evidence of an improvement during the year.