Recession

Part of Oral Answers to Questions — Trade and Industry – in the House of Commons at 12:00 am on 16th October 1991.

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Photo of John Redwood John Redwood Minister of State (Department of Trade and Industry) 12:00 am, 16th October 1991

British industry is becoming more competitive and more productive. Manufactured exports are 60 per cent. up in volume terms compared with 1979. The balance of payments deficit in manufactures has been closed. Total investment in the economy is above the levels of the 1970s and private consumption per head is above that in France and Germany. It is about time that Opposition Members started looking at some of the pluses in the situation.