§ Mr. HardyTo ask the Chancellor of the Exchequer what was the actual balance of payments position at the end of each of the last 10 years; and what is his present estimate of the position at the end of the current year.
§ Mr. LilleyThe latest estimate of the current account for each of the last 10 years and the forecast for 1989, published in the "Financial Statement and Budget Report 1989–90", are set out in the table.
£ million Current account 1Balancing item 1979 -496 1,044 1980 3,122 570 1981 6,936 277 1982 4,685 -2,333 1983 3,893 468 1984 2,077 5,672 1985 3,355 6,150 1986 151 13,700 1987 -2,905 12,356 1988 -14,936 13,878 21989 -14,500 1 Indicates errors and omissions in both capital and current account 2 Forecast published in Financial Statement and Budget Report 1989–90, rounded to nearest £½ billion.