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Dollar Value

Volume 128: debated on Thursday 25 February 1988

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To ask the Chancellor of the Exchequer, pursuant to the statement on the meeting of the European Council, Official Report, 15 February, columns 705–17, whether he will publish in the Official Report the value of the dollar agreed as the basis for deciding what constitutes exceptional circumstances; and what call would be made on the contingency reserve if the nominal rate of the dollar fell so as to reduce the real rate, in terms of relative export prices for manufacturers, to the average for 1978–80.

I have nothing to add to the answer given by my right hon. Friend the Prime Minister in response to the question by the hon. Member on 22 February 1988 at column 15.