§ 22. Mr. Bruce-Gardyneasked the Chancellor of the Exchequer how many representations he has received in the last three months in favour of the proposition that the exchange rate is (a) too low and (b) too high, respectively.
§ Sir Geoffrey HoweUntil recently most representations have concentrated on the difficulties companies have been facing as a result of the effect of a strong pound on their competitive position. Lately there has been increasing concern about the effect of a lower exchange rate on the rate of inflation.