§ Mr. SkinnerTo ask the Chancellor of the Exchequer if he will make a statement on action he proposes to reduce the deficit in trade in manufactured goods.
§ Mr. Norman LamontThe deficit in trade in manufactures will fall as domestic demand and capacity pressures ease and exports increase. There are clear signs that this is happening; in the first quarter of 1990 the volume of exports of manufactures—less erratics—was 9½ per cent. higher than in the same quarter a year earlier, while imports were only 1 per cent. higher.