§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what has been the cost to the United Kingdom economy of financing the deficit in the current account of the balance of payments since 1986; and if it is the Government's policy to move the current account back into surplus to enable the debt to be repaid.
§ Mr. NelsonFigures for the current and capital accounts of the UK's balance of payments are published by the Central Statistical Office annually in the Pink Book, with quarterly data available on the CSO database. Both are available through the Library of the House. Latest figures for the third quarter 1994 show the current account in surplus, with net investment income at record levels and the UK a net creditor. The key to maintaining this good performance is for the Government to deliver permanently low inflation and companies to keep costs under control, thereby ensuring that British industry remains competitive.