Mr Major’s Written Parliamentary Answer on Manufactured Goods – 14 April 1988

Below is the text of Mr Major’s written Parliamentary Answer on Manufactured Goods on 14th April 1988.

Mr. Wilson To ask the Chancellor of the Exchequer what was the balance of payments deficit or surplus for manufactured goods in 1979; and what he expects this deficit or surplus to be in 1988.

Mr. Bradley To ask the Chancellor of the Exchequer what was the balance of payments deficit or surplus for manufactured goods in 1979; and what he expects this deficit or surplus to be in 1988.

Mrs. Fyfe To ask the Chancellor of the Exchequer what was the balance of payments deficit or surplus for manufactured goods in 1979; and what he expects this deficit or surplus to be in 1988.

Mr. Major In 1979 the balance of trade in manufactured goods was a surplus of £2.7 billion. The forecast published at the time of the Budget was for a deficit on trade in manufactures of £8.5 billion in 1988. The current account as a whole is expected to show a small deficit of £4 billion in 1988, less than 1 per cent. of GDP.