§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what change in the level of United Kingdom exports of manufactured goods to the EEC he forecasts as a result of the completion of the internal market; and on what basis he has made such estimates.
§ Mr. MajorI would expect completion of the internal market significantly to boost exports to other member states of the Community, but have made no detailed estimates.
§ Mr. Austin MitchellTo the Chancellor of the Exchequer what was the deficit in United Kingdom trade with the EEC in manufactures in 1987; and what estimate he has made of the effects of the completion of the internal market on this figure.
§ Mr. MajorThe deficit on direct trade in manufactured goods with other member states in 1987 is at present estimated to have been £10.2 billion. I expect completion of the internal market to boost both our exports to and imports from other member states, but I have made no estimates of the magnitude.
§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what is his forecast of the increase in United Kingdom exports of manufactured goods to the EEC as a result of the completion of the internal market; and if he will provide a similar forecast for the increase in exports.
274W
Expenditure on fixed assets in the United Kingdom by nationalised industries £ million 1978–79 outturn (Cmnd. 7841) Percentage of capital requirements financed internally 1989–90 plans (Cm. 288) Cash Real terms1 (base year 1988–89) Cash Real terms1 (base year 1988–89) British Aerospace 26 55 54.3 — — British Airports Authority 33 70 100.0 — — British Airways Board 219 464 67.6 — — British Coal 495 1,049 0.0 649 627 British Gas Corporation 280 593 100.0 — — British National Oil Corporation 243 515 6.3 — — British Railways Board 349 740 0.0 655 633 British Shipbuilders 27 57 0.0 8 8 British Steel Corporation 334 708 0.0 274 265 British Transport Docks Board 9 19 100.0 — —
§ Mr. Norman Lamont[holding answer 14 June 1988]: Following is the information.
§ Mr. MajorI expect completion of the internal market to boost trade with the other member states of the Community. No detailed estimates have been made.