§ Mr. Austin Mitchellasked the Chancellor of the Exchequer what is the measure of competitiveness he uses in the published forecasts for imports and exports; and how the figure for each forecast period compares with the corresponding figure for the fourth quarter of 1976.
§ Mr. LawsonI refer the hon. Member to the reply I gave him on 5 December 1980.—[Vol. 995, c.416–17.] Quarterly movements in competitiveness cannot be predicted with any accuracy, and will depend on a large number of factors, including developments in wage settlements and the exchange rate.