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Manufacturing Industry (Exchange Rate)

Volume 130: debated on Thursday 31 March 1988

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To ask the Chancellor of the Duchy of Lancaster what assessment he has made of the effects of a high exchange rate on British manufacturing industry; and what is his expectation of the effect on Anglo-German trade in manufactured goods of a sustained exchange rate of the pound sterling equalling over 3 deutschmarks.

The exchange rate is only one of many factors affecting performance in manufacturing, as Germany's experience confirms. The outlook for United Kingdom manufacturing output, investment and exports generally is one of continuing growth. Our improved performance in areas such as quality, design, and reliability is particularly relevant to the demands of the German market.