§ 30. Mr. LathamTo ask the Chancellor of the Exchequer whether he will make a statement on the level of interest rates.
§ Mr. LathamIn view of the serious recession in the construction industry and the significant downturn in retail sales, will my hon. Friend confirm that nothing in the underlying features of the British economy would require a rise in interest rates?
§ Mr. RyderInterest rates will remain as high as is necessary for as long as is necessary to bear down on inflation. My right hon. Friend the Chancellor reserves the right if need be to raise interest rates, just as he reserves the right to get them down.