Oral Answers to Questions — Economic Affairs (Prime Minister's Speech)

Part of the debate – in the House of Commons at 12:00 am on 17th February 1976.

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Photo of Mr Harold Wilson Mr Harold Wilson , Huyton 12:00 am, 17th February 1976

The House has recently debated unemployment, and my right hon. Friend the Secretary of State for Employment and others have been answering Questions about it today. I was not carried away. I was responding there, and at Birmingham, to a very clear statement of increased confidence by business, and I gave the House last week the text of what business has in effect said. The hon. Gentleman might draw attention—and so might the whole Opposition—to the vast improvement in our balance of payments, which affects exchange rates and the rest. The deficit in the balance of payments, including oil, is now very much less than it was under the Conservatives in their last year before the oil crisis hit Britain.