§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what assessment he has made of the advantages and disadvantages of a fall in the rate of foreign exchange; and what is his policy on whether the disadvantages outweigh the advantages.
§ Mr. NelsonMovements in the exchange rate are considered as part of the general assessment of monetary conditions in setting monetary policy. The Government recognise the value of a stable exchange rate, but do not have a target rate for sterling.