§ Mr. Gouldasked the Secretary of State for Trade what was the United Kingdom deficit in trade with the EEC in October at an annual rate; how this compares with 1970 and 1975; and what intended benefits of membership have so far materialised to compensate for the current deficit.
§ Mr. MeacherThe figures are as follows:
UK Crude (1) trade balance with the EEC £ million 1970 -81 1975 -2,386 Oct 1976 at annual rate (2) -2,892 (1) The Crude trade balance is the difference between exports fob and imports cif.
(2) Twelve times the October 1976 crude trade deficit based upon seasonally adjusted data.
Among the benefits of membership so far are the receipts from the Regional and Social Funds, though the net effect of either is not easily quantifiable. These and other matters are covered in the Government's Report on Renegotiation (Cmnd. 6003) and the six monthly reports on Developments in the European Communities (Cmnd. 6349 and 6497).
§ Mr. Gouldasked the Secretary of State for Trade what is the EEC deficit with Japan as a percentage of EEC imports from all sources; what is the United Kingdom deficit with the EEC as a percentage of United Kingdom imports from all sources; and whether he will request the EEC countries voluntarily to restrict their exports to the United Kingdom.
§ Mr. MeacherI will write to my hon. Friend as soon as possible and place copies in the Library.