HC Deb 19 October 1989 vol 158 cc191-3W
22. Mr. James Lamond

To ask the Chancellor of the Exchequer what is the current short-term United Kingdom interest rate; and what are the interest rates of each of the G7 countries.

Mr. Norman Lamont

On 18 October three-month money market rates were 15 per cent. in the United Kingdom, 8.6 per cent. in the United States, 6.4 per cent. in Japan, 8.3 per cent. in Germany, 10 per cent. in France, 13 per cent. in Italy, and 12.3 per cent. in Canada.

27. Mr. Knox

To ask the Chancellor of the Exchequer if he will make a statement about the current level of interest rates.

102. Mr. Wilson

To ask the Chancellor of the Exchequer if he will make a statement on the current level of interest rates.

Mr. Ryder

Bank base rates are 15 per cent.

30. Mr. O'Brien

To ask the Chancellor of the Exchequer what the United Kingdom base rate was in May 1988; and what is is today.

31. Mr. Patchett

To ask the Chancellor of the Exchequer what the United Kingdom base rate was in May 1988; and what it is today.

57. Mr. Parry

To ask the Chancellor of the Exchequer what was the United Kingdom base rate in May 1988; and what it is today.

Mr. Ryder

The base rate in the United Kingdom was 8 per cent. at the beginning of May 1988 and fell to 7½ per cent. on 18 May of that year. The base rate is currently 15 per cent.

41. Mr. Janner

To ask the Chancellor of the Exchequer what is the current short-term interest rate in(a) the United Kingdom and (b) Germany.

135. Mr. Illsley

To ask the Chancellor of the Exchequer what is the current short-term interest rate in(a) the United Kingdom and (b) Germany.

149. Mr. Martyn Jones

To ask the Chancellor of the Exchequer what is the current short-term interest rate in(a) the United Kingdom and (b) Germany.

Mr. Ryder

I refer the hon. Members to the reply I gave earlier today to the hon. Member for Cunninghame, South (Mr. Lambie).

85. Mr. Leadbitter

To ask the Chancellor of the Exchequer, what is the current short-term United Kingdom interest rate; and what are the interest rates of each of the G7 countries.

95. Mr. Lewis

To ask the Chancellor of the Exchequer what is the current short-term United Kingdom interest rate; and what are the interest rates of each of the G7 countries.

130. Mr. Leighton

To ask the Chancellor of the Exchequer what is the current short-term United Kingdom interest rate; and what are the interest rates of each of the G7 countries.

Mr. Ryder

I refer the hon. Members to the reply my right hon. Friend the Chief Secretary gave earlier today to the hon. Member for Oldham, Central and Royton (Mr. Lamond).

105. Mr. Battle

To ask the Chancellor of the Exchequer, when he next expects to meet representatives of the Building Societies Association to discuss the level of United Kingdom interest rates.

118. Mr. Bell

To ask the Chancellor of the Exchequer when he next expects to meet representatives of the Building Societies Association to discuss the level of United Kingdom interest rates.

120. Mr. Bidwell

To ask the Chancellor of the Exchequer when he next expects to meet representatives of the Building Societies Association to discuss the level of United Kingdom interest rates.

Mr. Ryder

My right hon. Friend has no such plans.

110. Mr. Cryer

To ask the Chancellor of the Exchequer whether he will make a statement on the prevailing level of interest rates and the effect on manufacturing industry.

Mr. Ryder

Inflation is the greatest threat to the prosperity of all manufacturing firms. They will, therefore, benefit greatly from the Government's determination to keep interest rates as high as necessary for as long as necessary as part of its firm anti-inflationary policy.

114. Mr. Dykes

To ask the Chancellor of the Exchequer if he will make a statement on the effect to date of the high interest rate policy on countering inflation.

Mr. Ryder

There are clear signs that the Government's tight monetary policy is countering inflationary pressures. The housing market has cooled in all areas of the country and retail sales show the lowest recorded annual increase since June 1982.

116. Mr. David Young

To ask the Chancellor of the Exchequer how many letters he has received from members of the public on the level of interest rates or their impact on the cost of mortgages.

129. Mrs. Wise

To ask the Chancellor of the Exchequer how many letters he has recieved from members of the public on the level of interest rates or their impact on the cost of mortgages.

Mr. Ryder

I refer the hon. Members to the answer my right hon. Friend the Chancellor gave earlier today to the hon. Member for Clydebank and Milngavie (Mr. Worthington).

156. Mr. Foulkes

To ask the Chancellor of the Exchequer what representations he has received from the National Federation of Self Employed and Small Businesses Ltd. about the level of the United Kingdom's interest rates.

164. Mr. Flynn

To ask the Chancellor of the Exchequer what representations he has received from the National Federation of Small Businesses and the self-employed about the level of United Kingdom interest rates.

166. Mr. Flannery

To ask the Chancellor of the Exchequer what representations he has received from the National Federation of Self Employed and Small Businesses Ltd. about the level of United Kingdom interest rates.

182. Mr. Fisher

To ask the Chancellor of the Exchequer what representations he has received from the National Federation of Self Employed and Small Businesses Ltd. about the level of United Kingdom interest rates.

Mr. Ryder

My right hon. Friend and I have received a number of representations on this subject.