Question to the HM Treasury:

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.

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.