Manufacturing Trade

Part of Oral Answers to Questions — National Finance – in the House of Commons am 12:00 am ar 16 Mai 1991.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Mr David Mellor Mr David Mellor , Putney 12:00, 16 Mai 1991

I am grateful to the hon. Gentleman for the typically understated way in which he asked his question, and for auditioning for the job of conducting the proms at the same time. As the hon. Gentleman knows, the manufacturing deficit turns on the increase in exports and in imports. As it happens, during the period that we moved into deficit, the increase in exports year-on-year was running at 7½ per cent. between 1983 and 1990. The hon. Gentleman may be interested to have the comparative figure under Labour between 1974 and 1979, when manufacturing exports achieved a year-on-year increase of 2 per cent. The increased prosperity of the 1980s of course brought increased demand for imported goods.