§ Mr. Austin Mitchell
To ask the Chancellor of the Exchequer what are the economic conditions which in the Government's assessment has to be fulfilled before a rate of exchange can be described as competitive.
§ Mr. Nelson
A nation's competitiveness depends on much more than its exchange rate. Our ability to sell goods and services into world markets and achieve a sustained rise in living standards depend fundamentally on improving productivity and controlling costs. Policies directed at permanently low inflation and competitive markets provide the best environment in which to achieve this.