Industrial Competitiveness

Part of Oral Answers to Questions — Trade and Industry – in the House of Commons at 2:22 pm on 12th July 1995.

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Photo of Mike Gapes Mike Gapes , Ilford South 2:22 pm, 12th July 1995

Given the international weakness of the pound and of the British economy, and the fact that this country's growth is the lowest in the G7 and the second lowest in the Organisation for Economic Co-operation and Development, does the President of the Board of Trade agree that, if we were to stay out of a single European currency, massive speculation would take place against the pound, necessitating an increase in interest rates?