§ 32. Mr. Martenasked the Secretary of State for Trade and Industry why the United Kingdom's balance of trade with the Common Market has deteriorated since membership.
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§ Sir G. HoweA number of factors, unconnected with our membership of the European Community, have played a part. Parity changes have made our imports more expensive before our exports feel the full benefit of our increased price competitiveness; world prices have risen; and our expanding economy has called for imports, for example, of materials and machinery.