§ Mr. Gouldasked the Chancellor of the Exchequer if he estimates that the volume of imports of manufactures will fall as a result of the under-valuation of the £ sterling.
§ Mr. Robert SheldonIf United Kingdom price competitiveness increases, whether through depreciation or relative price movements, the volume of imports of manufactures can hardly fail to be lower than it would otherwise have been, provided that our industry is not prevented by capacity constraints from producing the goods which substitute for imports.