§ Mr. Austin Mitchellasked the Secretary of State for Trade what would be the total saving to the Exchequer if cuts were imposed in the amount spent directly and indirectly by all Departments and official agencies in promoting the exports of (a) goods and (b) services; how much of this expenditure is incurred in foreign exchange; and how the total compares with the estimated loss to the 111W balance of payments as a result of a 1 per cent. appreciation of the real exchange rate.
§ Mr. EyreThe information in the form requested is not available. The total net cost of Government support for export promotion in the current year is estimated at £84 million, leaving aside ECGD.
Estimates of the effect of a change in the real exchange rate on the balance of payments depend on the precise definition of real exchange rate and on the circumstances of the change which makes the second part of the question not susceptible to a precise answer.