HC Deb 25 June 1998 vol 314 c610W
27. Mr. Beard

To ask the Chancellor of the Exchequer if he will make a statement on the likely impact of the Asian financial crisis on his forecasts for the UK and other European Union economies. [46178]

Mrs. Liddell

Recent developments in Asia pose considerable risks to the world economy. The March 1998 FSBR took account of these in its forecasts for the UK and Europe. It incorporated a reduction in UK GDP growth in 1998 of up to half a percentage point due to the likely impact of financial difficulties in Asia. The Treasury and the Bank of England continue to monitor the situation closely.

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