§ Mr. Ron Thomasasked the Secretary of State for Trade what is his estimate of the proportion of British exports reduced in price consequent upon devaluation of the £ sterling; what is his estimate of how many firms refused to reduce their prices in foreign markets in order to increase their profits; and if he will make a statement.
§ Mr. MeacherInformation on which to base either of these estimates is not available. However, United Kingdom export prices rose 25 per cent. over the period December 1975 to December 1976 as against a depreciation of spending of 17 per cent. over the same period.