Mr Major’s Written Parliamentary Answer on Oil Prices – 9 July 1987

Below is the text of Mr Major’s written Parliamentary Answer on Oil Prices on 9th July 1987.

Mr. Salmond Asked the Chancellor of the Exchequer what is his Department’s current assessment of the impact of lower oil prices on the United Kingdom’s economy.

Mr. Major Individuals and companies are benefiting from lower fuel costs and the manufacturing sector is already responding to the competitiveness gains which have occurred.