§ Mr. Adleyasked the Chancellor of the Exchequer what in his view are the advantages of a strong £ sterling vis-à-vis the United States of America dollar and other countries.
§ Sir Geoffrey HoweA strong £ sterling has advantages and disadvantages. The advantages, about which my hon. Friend is inquiring, are that it helps to restrain the increase in domestic costs and reduce the rate of inflation by lowering the cost of imported raw materials.