§ Mr. WareingTo ask the Chancellor of the Exchequer if he will state the visible trade deficits for each quarter of 1990; and what effect he expects recent reductions in interest rates to have on the United Kingdom balance of trade during the current year.
§ Mr. Mellor[holding answer 21 March 1991]: The information requested is as follows:
Visible trade balance £ billion 1990 Quarter 1 -5.9 Quarter 2 -5.3 Quarter 3 -3.7 Quarter 4 -3.0 Total -17.9 The FSBR forecast is for the visible deficit to fall further this year, to £12 billion.