Autumn Statement

Part of the debate – in the House of Commons at 9:10 pm on 12th January 1989.

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Photo of Ian Taylor Ian Taylor , Esher 9:10 pm, 12th January 1989

The hon. Gentleman appears to be getting into trouble despite his long years of experience as a lecturer. The reality is that the balance of probability is that any variables in the system will be in favour of a reduction in the outturn of the balance of payments deficit this year. Even last weekend it was pointed out that there is probably an under-recording of £4 billion on invisible exports. That puts his argument completely in threads.