§ Mr. MacShaneTo ask the Chancellor of the Exchequer what assessment he has made of the impact on exports of changes in the strength of the pound against other currencies since January 1996. [31932]
§ Mrs. Angela KnightThe latest trade data, to March, show that the volume of United Kingdom exports of goods—excluding oil and erratics—increased by over three per cent. in the first quarter of 1996 compared with the previous quarter. However, exports depend on a wide range of factors, of which the exchange rate is only one, and it is difficult to disentangle the various influences. In any case, the sterling effective exchange rate index changed little between January and April 1996.