HC Deb 25 April 1983 vol 41 cc225-6W
34. Mr. Straw

asked the Minister for Trade if he will assess the impact on United Kingdom exports and imports of the fall in the foreign exchange rate of sterling in recent months.

Mr. Peter Rees

In the short run a lower exchange rate may bring some relief to United Kingdom firms facing difficult competitive pressures abroad and in the home market. Nevertheless, it also means higher costs to industry. How long the benefit will last will depend, among other factors, on the ability of firms to contain their costs rigorously.