§ Mr. Home RobertsonTo ask the Chancellor of the Exchequer what is the annual cost of exchanges between sterling and other EU currencies for(a) exports and imports of goods and services, (b) stock exchange and banking transactions and (c) expenditure by (i) tourists and (ii) business travellers.
§ Mr. NelsonThe Government have not made any overall or detailed estimate of currency conversion costs between the pound sterling and other EU currencies. However, the European Commission estimates that currency conversion costs amount to 0.4 per cent. of gross domestic product for the EC as a whole.