Balance of Payments

HC Deb 11 February 1988 vol 127 c335W

42. Mr. Barry Jones

To ask the Chancellor of the Exchequer what measures he is taking to improve the balance of payments.

Mr. Major

I refer the hon. Member to the reply given earlier today by my right hon. Friend the Chancellor of the Exchequer to the hon. Member for Orkney and Shetland (Mr. Wallace).

Mr. Wallace

To ask the Chancellor of the Exchequer if he will make a statement on the Government's policy towards the balance of payments.

Mr. Lawson

The current account deficit last year was precisely in line with the forecast I made at the time of the Budget. The Government's policies are directed towards improving the performance of the economy overall. This is fully consistent with normal fluctuations in the composition of the balance of payments.