§ Mr. MitchellTo ask the President of the Board of Trade what recent representations she has received from trade officers in British embassies in(a) Japan, (b) Germany, (c) South Korea and (d) the USA, on the impact of the current level of the sterling exchange rate and its effects on (i) British exports to that country and (ii) inward investments from that country to Britain. [36343]
§ Mrs. Roche[holding answer 6 April 1998]: The Government are aware, through information from our posts abroad and other sources, of the difficulties being faced by exporters, particularly in Europe and East Asia, as a result of the current level of sterling. The Government's aim is for a stable and competitive pound over the medium term, and to achieve this they are committed to delivering a stable macroeconomic framework in which businesses can plan and invest for the long term.