Balance of Payments

Part of Oral Answers to Questions — Trade and Industry – in the House of Commons at 1:43 pm on 19th February 1997.

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Photo of Don Touhig Don Touhig , Islwyn 1:43 pm, 19th February 1997

But will not 1996 be the 11th consecutive year in which the balance of payments current account has been in deficit? The Treasury forecasts an even wider deficit in the next two years, giving Britain the longest run of balance of payments deficits for 130 years. Are the Government proud of that record?