Manufacturing Industry

Part of Opposition Day – in the House of Commons at 7:54 pm on 19 February 1991.

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Photo of Mr Nicholas Budgen Mr Nicholas Budgen , Wolverhampton South West 7:54, 19 February 1991

My right hon. Friend refers to devaluation, but devaluation does not cause inflation, does it? My right hon. Friend will agree that devaluation has an effect on some prices but not on all prices.