§ Mr. Bruce-Gardyneasked the Chancellor of the Exchequer what is his estimate of the annual rate of domestic credit expansion during the latest period of three months for which statistics are available; and whether this conformed with the monetary policy of Her Majesty's Government.
§ Mr. NottDomestic credit expansion was £1,329 million, seasonally-adjusted, in the second quarter of this year, but this cannot be expressed as a percentage annual rate. As to the second part of the Question, the monetary policy of the Government is to limit the growth of money and credit to that consistent with the sound growth of the economy.