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 Mr Michael Stephen Mr Michael Stephen , Shoreham 1:43 pm, 19th February 1997

Does my hon. Friend agree that a factor of great importance to British exporters is the value of the British pound? If the pound becomes too strong, it will be much more difficult for British exporters to win in foreign markets. Is there not a case, perhaps, for cutting interest rates to reduce the value of the pound?