Gatt

Part of the debate – in the House of Commons at 3:30 pm on 23rd November 1992.

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Photo of Malcolm Bruce Malcolm Bruce Shadow Spokesperson (Trade and Industry) 3:30 pm, 23rd November 1992

Does the President of the Board of Trade accept that there is considerable relief among Liberal Democrat Members that a trade war has been averted and that progress is being made towards the eventual settlement of the GATT round? However, may I take up the points made by the hon. Member for Suffolk, Central (Mr. Lord)? The settlement and the CAP reforms will further squeeze farm incomes throughout the Community, and rural communities need measures to help compensate for that. Will the right hon. Gentleman assure us that attention will be given to that? Does he also accept that the final shake-out of the GATT round will have a far-reaching effect on many industries and requires a Community-wide strategy to ensure that we can take full advantage of it, defeat unemployment and have a regional policy? When does he think that our balance of payments deficit will be turned into a surplus?