Oral answer to question provided on Monday, 19 January 2009 in the House of Lords, by Lord Myners (Labour).

Economy: Exchange Rate

Answer: My Lords, within the verbiage to which the noble Lord, Lord Tebbit, refers, I have answered the questions with as much care as I can. I certainly rest assured that, although he accuses me of verbiage, he will not be accusing me of laziness—a description that he has applied to a new member of his Front-Bench team in the other House. The benefit of a lower exchange rate is enhanced export competitiveness and an ability to provide more demand for domestic production than from overseas sources. That is what I said earlier; I repeat it.

This is an answer to the Oral question asked on Monday, 19 January 2009 by Lord Tebbit (Conservative).

Question: My Lords, I want to ask the Minister again. Underneath that mass of verbiage, was the Answer to the noble Lord’s Question, ““Yes, it’s good”” or ““Yes, it’s bad””? Which was it?

Secondary information