Below is the text of Mr Major’s written Parliamentary Answer on Economic Policy on 10th March 1988.
Mr. Blunkett To ask the Chancellor of the Exchequer what criteria he uses in deciding the relative priority to be accorded to (a) cutting income tax rates; (b) increasing expenditure on overseas aid to the level of the United Kingdom commitment to 0.7 per cent. of gross national product.
Mr. Major The latest plans show increased provision for the overseas aid programme, which is now projected to grow by 3 per cent. in real terms between 1986–87 and 1990–91.