§ Mr. Austin Mitchell
To ask the Chancellor of the Exchequer what assessment he has made of the extent to which the deflationary measures which he has taken since August 1994 will benefit the financiers of the real economy at the expense of manufacturing industry; and what steps he will take to prevent this.26W
§ Mr. Nelson
The role of monetary policy is to deliver low inflation. Monetary policy has been tightened since August 1994, so as to take no risk with inflation. A stable macro-economic environment with low inflation is the best way to ensure sustained real growth and will benefit all sectors of the economy.