§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what assessment he has made of the effects of the last three increases in interest rates on import penetration.
§ Mr. NelsonImport penetration depends on a variety of factors, including price competitiveness, domestic demand and capacity. Recent increases in interest rates were aimed at ensuring permanently low inflation and sustainable economic growth, thereby providing a stable climate within which British industry can compete successfully in both domestic and overseas markets.