§ Mr. Austin Mitchellasked the Secretary of State for Trade and Industry what is the percentage increase in the value of the £ sterling compared with other European Community currencies since the end of March; and if he will assess the effect this will have on production in the engineering industry.
§ Mr. ChannonThe £ sterling increased in value against the weighted average of European Community countries' currencies by 9.7 per cent. between the week ending 1 April 1983 and the week ending 24 June 1983. It is not possible to assess the effect this will have on production in the engineering industry in isolation from the effects of other exchange rate changes over the same period and over other periods.