British Overseas Trade Board

HC Deb 29 October 1976 vol 918 cc425-6W

Mr. Michael Morris

asked the Secretary of State for Trade by how much, in real terms, the overseas spending budget of the British Overseas Trade Board has been reduced during 1976 because of the devaluation of the £ sterling.

Mr. Dell

The budget in respect of direct expenditure by the British Overseas Trade Board on promotional sup- port for United Kingdom exports is £16.4 million net, as published in Civil Estimates, Class IV, Vote 11. A Supplementary Estimate will be sought, subject to the overall ceiling set by cash limits, for any overspending of the published provision caused by wage and price increases, including additional sterling expenditure overseas resulting from variation in the exchange rates for sterling.