§ 37. Ms. ShortTo ask the Secretary of State for Trade and Industry if he will make a statement on the prospects for British invisibles in the European market after 1992.
§ Mr. RedwoodThe single market offers both a challenge and an opportunity to British business. This applies to businesses generating invisible trade as much as to those generating visible trade. The opportunities are great: according to estimates published by the Commission in "European Economy" in March 1988, the Community services sector is expected to contribute about 30 per cent. of the gains from the completion of the single market. The outcome for British invisibles will depend on the dynamic response of individual businesses.