§ Mr. AncramTo ask the Secretary of State for Wales if he will estimate the value of export orders for goods and services lost by companies in Wales because of changes in exchange and interest rates since 1 May 1997(a) in the current financial year and (b) in each of the next two financial years. [33619]
§ Mrs. LiddellI have been asked to reply.
The economic effects of exchange rate and interest rate changes are difficult to isolate, especially at the regional level. Recent business surveys suggest that export orders in Wales have been hit by the strength of sterling, as in all other UK regions, but that output in the Welsh economy continues to expand.