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Exchange Rates

Volume 165: debated on Wednesday 17 January 1990

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To ask the Chancellor of the Exchequer, further to his reply dated 4 December 1989, Official Report, column 22, concerning the effect on manufacturing industry of the increase in the value of £ sterling against the deutschmark, whether the figure of 38 per cent. refers to volume or value.

The figure of 38 per cent. referred to the increase in the volume of manufacturing investment between the first quarter of 1987 and the third quarter of 1989.