HC Deb 11 May 1988 vol 133 cc137-8W
115. Mr. Alan W. Williams

To ask the Chancellor of the Exchequer what is his latest estimate of the balance of trade for 1988.

Mr. Major

At Budget time my right hon. Friend the Chancellor forecast a deficit on visible trade of £12½ billion in 1988. Combined with a projected surplus on invisibles of £8½ billion, the current account was forecast to be in deficit by £4 billion, less than 1 per cent. of GDP.

116. Mr. Hoyle

To ask the Chancellor of the Exchequer what is his latest estimate of the balance in manufactured trade for 1988.

120. Mr. Win Griffiths

To ask the Chancellor of the Exchequer what is his latest estimate of the balance in manufactured trade for 1988.

Mr. Major

At Budget time, my right hon. Friend the Chancellor forecast a deficit of £8½ billion on manufactured trade during 1988. With substantial surplus expected on trade in services and oil and on net earnings from overseas assets, the current account deficit is forecast to be £4 billion, less than 1 per cent. of GDP.

117. Dr. Marek

To ask the Chancellor of the Exchequer what proportion of his estimate of the anual trade balance for 1988 has now been reached by the monthly figures.

118. Ms. Armstrong

To ask the Chancellor of the Exchequer what proportion of his estimate of the annual trade balance for 1988 has now been reached by the monthly figures.

Mr. Major

At Budget time my right hon. Friend the Chancellor forecast a visible trade deficit of £12½ billion in 1988. The deficit in the first quarter was £3.6 billion.