§ Mr. Foulkes
asked the Chancellor of the Exchequer if he will estimate the impact on the inflation rate between May 1982 and May 1983 of the two falls in the mortgage interest rate which occurred during this period.
§ Mr. Ian Stewart
I refer the hon. Gentleman to the reply he received from my right hon. and learned Friend the former Chief Secretary to the Treasury on 7 December 1982 — [Vol. 33, c.409.] The only reductions in the mortgage interest rate between May 1982 and May 1983 were those announced in August and November 1982.