§ Mr. Hendersonasked the Chancellor of the Exchequer whether he will provide a table showing percentage changes in trade weighted values of the currencies of each of the EC countries, Japan, Switzerland, Austria, Sweden, Australia, Norway, the United States of America and Canada (a) between February 1974 and April 1979 and (b) between May 1979 and the latest available date.
§ Mr. Bruce-GardyneThe information is as follows:
Percentage changes in effective exchange rates indices (1975 = 100): February 1974 (average) to April 1979 (average) May 1979 (average) to 23 February 1983 Belgium +17.6 -16.4 Denmark +14.7 -20.1 France +3.0 -18.8 Germany +30.7 +2.6 Ireland -25.3 -2.7 Italy -34.8 -23.1 Netherlands +25.2 +1.6 United Kingdom -19.6 -7.2 Japan +27.1 +9.8 Switzerland +66.7 +5.8 Austria +29.3 +2.4 Sweden -2.7 -26.2 Australia -30.0 +2.9 Norway +3.4 -9.6 USA -8.3 +26.1 Canada -18.2 +4.6 Data for Luxembourg is not readily available; but as the Luxembourg franc is maintained at parity with the Belgian franc its effective exchange rate index would probably show similar changes, with any differences being explained by differences in the trade-related weights employed.