§ Ms. HarmanTo ask the Chancellor of the Exchequer which spending programmes he estimates will be affected by the expenditure involved in currency intervention in the period 14 to 18 September.
§ Mr. NelsonNone. The use of foreign currency reserves for intervention purposes involves an exchange of assets and is, therefore, not public expenditure.
§ Ms. HarmanTo ask the Chancellor of the Exchequer if he will list the reasons for the Government's practice of not revealing the amount of intervention, gains and losses arising from currency support to the United Kingdom Exchequer.
§ Mr. NelsonIt has been the long-standing convention of successive Governments not to reveal the extent of intervention. It would not be in the national interest to do so, because the information is market sensitive.