HC Deb 16 June 1988 vol 135 cc256-7W
12. Mr. Macdonald

To ask the Chancellor of the Exchequer if he will make a statement regarding the effect of the recent appreciation of the value of the pound on the current account of the United Kingdom balance of payments.

Mr. Lilley

The outcome for the current account depends on many more factors than just the exchange rate. Much more important for competitiveness is the need to control unit costs.

70. Mr. Ernie Ross

To ask the Chancellor of the Exchequer if he will make a statement regarding the effect of the recent appreciation of the value of the pound on the current account of the United Kingdom balance of payments.

88. Mr. Doran

To ask the Chancellor of the Exchequer if he will make a statement regarding the effect of the recent appreciation of the value of the pound on the current account of the United Kingdom balance of payments.

Mr. Major

I refer the hon. Members to the answer given earlier today by my hon. Friend the Economic Secretary to the hon. Member for Western Isles (Mr. Macdonald).

96. Mr. Fisher

To ask the Chancellor of the Exchequer what is his latest estimate of the balance of payments for 1988–89.

Mr. Major

At Budget time my right hon. Friend the Chancellor of the Exchequer forecast a current account deficit of £4 billion for 1988. A new forecast will be published at the time of the Autumn Statement.