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STRONG POUND "EATJNG PROFITS"
The "poison" of a strong pound is
0ostponing the UK's economic revival
and eating into profits, claims the
Chancellor's former economic adviser.
Professor Patrick Minford warned that
the case for assuming the pound would
fall back soon was "incredibly weak".
He said recession growth rates were
inevitable if the pound continues at
its present level throughout 1997.
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