HC Deb 29 July 1983 vol 46 cc716-7W
Sir William Clark

asked the Chancellor of the Exchequer what impact the abolition of exchange controls has had on the United Kingdom's balance of payments position.

Mr. Lawson

The abolition of exchange controls will undoubtedly have affected the composition of the capital account and caused the exchange rate to be lower than it would otherwise have been. Net outward capital flows will have to be increased to the extent that this lower exhange rate may have increased the current account surplus.