HC Deb 20 May 1993 vol 225 cc281-2W
Mr. Austin Mitchell

To ask the Chancellor of the Exchequer what assessment has been made of the effect of the fall in interest rates and the real exchange rate between

Estimates of import penetration for 1968 to 1989 are available in the Library2. Separate estimates for import penetration from EC and non-EC countries are not available. 2 "The home and export performance of United Kingdom industries", Economic Trends, August 1977—for a 1968 estimate; "Manufacturing industry in the seventies: an assessment of import penetration and export performance", Economic Trends, June 1980-for annual estimates 1970 to 1979; "MQ12 Import penetration and export sales ratios for manufacturing industry"—for quarterly estimates 1975 Q4 to 1989 Q1.

(a) October 1981 and November 1982 and (b) June 1985 and April 1987 on economic recovery in (i) 1982–85 and (ii) 1987–89.

Mr. Nelson

There are a large number of influences on economic activity at any one time, and it is impossible properly to assess the effects of interest rate and real exchange rate changes in isolation.