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£ Sterling

Volume 986: debated on Monday 16 June 1980

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34.

asked the Secretary of State for Trade what effect the recent rise in the value of the £ sterling will have on the prospects for British exporters.

In the short run, because of an adverse impact on competitiveness, our export prospects may well be reduced. But a strong exchange rate should help to contain inflation, which is fundamental for improving our longer-term export performance.