Manufacturing Industry Costs

Part of Oral Answers to Questions — Prices and Consumer Protection – in the House of Commons at 12:00 am on 11th October 1976.

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Photo of Mr Robert Maclennan Mr Robert Maclennan Parliamentary Under-Secretary (Department of Prices and Consumer Protection) 12:00 am, 11th October 1976

It is true that during the past 12 months the exchange rate of sterling has gone down by about 17 per cent, and world commodity prices are up by 23 per cent., according to the dollar index of the Economist. Those are the facts, and they are a measure of the seriousness of the situation that the country faces.