§ Mr. BercowTo ask the Chancellor of the Exchequer for how long sterling has unofficially remained within the fluctuation bands permitted under ERM 2; and if he will make a statement. [59791]
§ Ms HewittThe UK is not a member of ERM 2 and the Government have no intention of joining. The Government do not have a target for sterling but aim for a stable and competitive exchange rate over the medium term, consistent with the objective of price stability.