§ 20. Mr. WigleyTo ask the Secretary of State for Wales what assessment he has made of the impact of the present level of the pound against the euro on the Welsh economy; and what discussions he has had with the First Secretary. [122196]
§ Mr. Paul MurphyI am in regular contact with the First Secretary and we frequently discuss the key issues facing the Welsh economy. The Government understand the concerns of businesses about the weakness of the euro, but is determined to take a long-term view.
550WShort-term fixes would be the biggest threat of all to industry, with the illusion of temporary relief followed by the treat of long-term damage.
§ 23. Mr. FlynnTo ask the Secretary of State for Wales what assessment he has made of the impact of the value of sterling on Welsh manufacturing employment. [122199]
§ Mr. Paul MurphyThe Government understand the concerns of businesses, and particularly manufacturers trading within Europe, about the weakness of the euro. Nevertheless, recent manufacturing export volumes have been robust across the UK as a whole, growing by 9 per cent. overall and by 6 per cent. to European markets.