Government Must Take Action On Trade Deficit

7.25.00pm UTC (GMT +0000) Tue 9th Mar 2004

Responding to this mornings trade figures, showing a record deficit, Malcolm Bruce MP, Liberal Democrat Shadow DTI Secretary, said: "Considering the impact the record balance of payment deficit will have on the British economy, the Government is being unacceptably complacent on the matter."

"This level of trade deficit cannot be sustainable in the long-term."

"I am calling on Patricia Hewitt and Gordon Brown to make a statement on what action they will be taking to turn the situation around."

ENDS

Notes to Editors

The UK's balance on trade in goods and services in January is estimated as a record deficit of £4.6billion, compared with £3.1billion in December.

According to the National Office of Statistics the trend suggests the UK trade deficit is widening.