§ 41. Mr. John H. Osbornasked the Chancellor of the Exchequer what study he has made of the impact on British industry of the exchange rate on costs of imports of materials, as well as the cost of exports; and if he will make a statement.
§ Sir Geoffrey HoweThe recent rise in the sterling exchange rate means that the cost of imported raw materials is less than it would otherwise have been. This and the lower cost of other imports will help to reduce inflation generally.