Sterling Valuation

Treasury written question – answered on 16th October 2006.

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Photo of Iain Wright Iain Wright Labour, Hartlepool

To ask the Chancellor of the Exchequer what assessment he has made of the effect of the value of sterling on the UK manufacturing sector and manufacturing jobs.

Photo of John Healey John Healey The Financial Secretary to the Treasury

Manufacturing output and employment is influenced by many factors. As a result, the impact of the current level of the sterling exchange rate on manufacturing output and employment is difficult to isolate with precision.

Manufacturing output has risen for four consecutive months and has grown over 1¾ per cent. in 2006 to date.

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