Economy

Lord Eatwell Excerpts

Monday 7th June 2010 Lords Chamber

[Lord De Mauley]

My noble friend is, of course, absolutely right.

[Lord Eatwell]

My Lords, does the Minister recall that the Prime Minister referred in his speech to the need to expand manufacturing industry? Does he agree with the Financial Times that the recent recovery in manufacturing industry—it is now growing faster than at any time since 1987—has been aided by the significant fall in the pound? Does he also agree that this illustrates the importance of maintaining demand to stimulate investment and growth?

[Lord De Mauley]

My Lords, I cannot find fault with the noble Lord’s argument that the fall in the pound has helped our exports. It is important that we maintain all efforts to promote our manufacturing industries and, indeed, exports.