Kelvin Hopkins – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Kelvin Hopkins on 2016-10-19.

To ask Mr Chancellor of the Exchequer, whether his Department has made an assessment of the effect on the manufacturing industry of the depreciation of sterling since the EU referendum; and if he will make a statement.

Simon Kirby

The UK has an inflation target, not an exchange rate target, and the Government does not express a view on the level of the exchange rate. Manufacturing output has grown 6% since 2010, and has seen significant growth in key areas such as car production and aerospace.