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Volume 938: debated on Monday 7 November 1977

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asked the Chancellor of the Exchequer whether the forecast published by the Treasury on 26th October assumed the revaluation of the £ sterling ; and if it did not, whether he will publish a revised forecast that takes the revaluation into account.

The forecast assumed that the effective exchange rate was constant at the level prevailing when it was prepared. It is not proposed to issue a new forecast on different assumptions.