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1987-1990 - Mr Major’s Written Parliamentary Answer on Balance of Payments

Below is the text of Mr Major's written Parliamentary Answer on Balance of Payments on 6th April 1989.


Mr. George Howarth To ask the Chancellor of the Exchequer which countries in the European Economic Community have a larger balance of payments deficit as a percentage of gross domestic product than the United Kingdom.

Mr. Robert Hughes To ask the Chancellor of the Exchequer which countries in the EEC have a larger balance of payments deficit as a percentage of gross domestic product than the United Kingdom.

Mr. Hoyle To ask the Chancellor of the Exchequer which countries in the EEC have a larger balance of payments deficit as a percentage of gross domestic product than the United Kingdom.

Mr. Major On the basis of published figures, none.

Mr. Frank Field To ask the Chancellor of the Exchequer if he will estimate when the balance of payments will return to surplus.

Mr. Flynn To ask the Chancellor of the Exchequer if he will estimate when the balance of payments will return to surplus.

Mr. Fisher To ask the Chancellor of the Exchequer if he will estimate when the balance of payments will return to surplus.

Mr. Flannery To ask the Chancellor of the Exchequer if he will estimate when the balance of payments will return to surplus.

Mr. Major The Financial Statement and Budget Report for 1989–90 published on 14 March provided forecasts of the balance of payments for 1989 and the first half of 1990. The balance of payments on current account is expected to remain in deficit over this period. Forecasts for later years are not published.

Ms. Harman To ask the Chancellor of the Exchequer if he will make a statement on the current balance of payments deficit.

Mr. Win Griffiths To ask the Chancellor of the Exchequer if he will make a statement on the current balance of payments deficit.

Mr. Grocott To ask the Chancellor of the Exchequer if he will make a statement on the current balance of payments deficit.

Ms. Gordon To ask the Chancellor of the Exchequer if he will make a statement on the current balance of payments deficit.

Mr. Major I refer the hon. Members to the recently published Financial Statement and Budget Report.

Mr. Galloway To ask the Chancellor of the Exchequer when he expects the balance of payments deficit will begin to fall as a percentage of gross domestic product.

Mr. Foulkes To ask the Chancellor of the Exchequer when he expects the balance of payments deficit will begin to fall as a percentage of gross domestic product.

Mr. Major I refer the hon. Members to the reply that my right hon. Friend the Chancellor of the Exchequer gave earlier today to the hon. Member for Norwich, South (Mr. Garrett).