§ Q16. Sir C. Osborne
asked the Prime Minister if the Minister of Housing and Local Government's broadcast statement on 19th January that it would be a matter of weeks rather than months before the Bank Rate is reduced from 7 per cent. represents the policy of Her Majesty's Government.
§ The Prime Minister
My right hon. Friend was merely making the obvious276W point that the present level of Bank Rate is exceptional and that it will be reduced as soon as circumstances permit.