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P105 ORACLE 105 Tue24 Oct ITV 1944:56   LAWSON DEFENDS  INTEREST RATE RISES Chancellor Nigel Lawson defended his economic policy in the Commons, saying: "Interest rates will have to stay high for some time,painful though it may be" And he warned: "Wj don't seek to deceive the British people there is some softer option." But Labour attacked Mr Lawson's fast- melting "candy-floss boom", after new figures put the balance of payments deficit at £1.64bn (see p1p2). Shadow chancellor John Smith said there was "deepening concern...at the consequences of 10yrs of Thatcherism". RACING PRINTS,GIFTS etc p579 (C4) Next Story Newsfile Sport TV Guide