§ 12. Ms Julie MorganTo ask the Secretary of State for Wales what discussions he has had with the Secretary of State for Trade and Industry about the effect of the value of the pound and the euro on manufacturing industry in Wales. [122188]
§ Mr. Paul MurphyI am in frequent contact with my right hon. Friend the Secretary of State for Trade and Industry. The Government understand the concerns of businesses, and particularly manufacturers, trading within Europe, about the weakness of the euro. But it is determined to take a long-term view. Short-term fixes would be the biggest threat of all to industry, with the illusion of temporary relief followed by the threat of long-term damage.