HC Deb 22 July 1975 vol 896 c186W
Mr. Edge

asked the Chancellor of the Exchequer if he will list in detail the Government's proposals for achieving the Government's long-term economic objective of attaining a stable balance of payments.

Mr. Dell

Solution of our balance of payments problems will require a sustained shift of resources into exports and import substitutes. To achieve this we shall need to remain internationally competitive. The new pay policy will be crucial here. We shall also need to avoid overloading our exporting industries with demand from domestic sources. North Sea oil and the Government's industrial policies will make increasing contributions over the next few years.