§ 23. Mr. Newensasked the Chancellor of the Exchequer if he will make a statement on the fluctuations in the value of the £ sterling in recent weeks.
§ Mr. Bruce-GardyneI refer the hon. Member to the reply given by my right hon. and learned Friend the Chancellor of the Exchequer to the right hon. Member for Stepney and Poplar (Mr. Shore) on 18 November when he said that successive Governments have made it their practice not to make statements about the level of the exchange rate. I do not intend to depart from that practice.
§ 40. Mr. Foulkesasked the Chancellor of the Exchequer by how much the £ sterling has devalued in comparison with the dollar since (a) October 1979, (b) October 1980 and (c) October 1981.
§ Mr. Bruce-GardyneThis morning sterling's exchange rate against the dollar was 1.6130. This was 24.8 613W per cent. lower than the average rate in October 1979, 33.3 per cent. lower than the average rate in October 1980, and 12.5 per cent. lower than the average rate in October 1981.
§ 56. Mr. Douglasasked the Chancellor of the Exchequer if he will make a statement on the current value of the £ sterling in relation to major international currencies.
§ Mr. Bruce-GardyneI refer the hon. Member to my right hon. and learned Friend's reply to the right hon. Member for Stepney and Poplar (Mr. Shore) on 18 November.—[Vol. 32, c. 417.]