§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what estimate he has made of the effect of the Government's monetary and exchange rate policies since 1968 on the competitiveness of United Kingdom manufacturers relative to those of the EC 15 measured in terms of relative unit values. [29975]
644W
§ Mr. Nelson[holding answer 27 June 1995]: It is not possible to isolate with any confidence the effects on competitiveness stemming from monetary and exchange rate policies. However, the Government's commitment to deliver permanently low inflation will provide a stable climate within which British manufacturing can compete successfully, in both world and domestic markets.