§ 3. Mr. Peter Lloyd
asked the Chancellor of the Exchequer what assessment he makes of the effect of his policies on the current rate of increase in industrial productivity.
§ The Chief Secretary to the Treasury (Mr. Peter Rees)
Output per head in manufacturing rose by 6 per cent. in both 1982 and 1983 and is now at a record level, being 23 per cent. higher than at the end of 1980.
§ Mr. Hunter
In the light of the most welcome increase in our exports of manufactured goods and the even greater increase in imports of foreign goods, will my right hon. and learned Friend comment on the desirability of a lower overall exchange rate, especially vis-a-vis European currencies, before there has been a significant decrease in our North sea oil revenues?