Mr Major’s Written Parliamentary Answer on Balance of Trade – 8 June 1989

Below is the text of Mr Major’s written Parliamentary Answer on Balance of Trade on 8th June 1989.

Ms. Walley To ask the Chancellor of the Exchequer what is his latest forecast of the balance of trade in visible goods in 1989.

Mr. Major I refer the hon. Member to the reply I gave to the hon. Member for Stretford (Mr. Lloyd) on 6 June.

Mr. Teddy Taylor To ask the Chancellor of the Exchequer what importance he attaches to the balance of trade (a) with the rest of the EEC and (b) with the rest of the world; and what account he takes of the EEC deficit when framing his economic policies.

Mr. Major The overall current account is one indicator among many that are assessed within the framework of the Government’s financial strategy. Movements in trade balances with individual economies or groups of economies will reflect, among other developments, changes in the United Kingdom’s commercial and trading arrangements with them.