§ 25. Mr. Sedgemore
asked the Chancellor of the Exchequer if he will make a statement about the growth of sterling M3.
§ 28. Mr. Fisher
asked the Chancellor of the Exchequer whether he will make a statement on the most recent position of sterling M3.
§ Mr. Ian Stewart
The growth of sterling M3 remains hard to interpret. The financing effects of accelerated investment to take advantage of the higher capital allowances available in 1984–85 can be expected to take a number of months to unwind. M0 remains well on track. There is no evidence that monetary conditions at present are insufficiently tight.