ERM AND INFLATION: GOVERNMENT POLICY

HL Deb 10 May 1993 vol 545 c49WA

Lord Tebbit

asked Her Majesty's Government:

Whether the speech of the Chancellor of the Exchequer to the European Policy Forum on 10th July 1992, which dealt with the exchange rate mechanism and inflation, remains the Government's policy.

The Earl of Caithness

The Govenment continue to believe that the control of inflation is fundamental to the long term health of the economy and that sterling's membership of the ERM helped to bring about a significant reduction in inflation.