§ Mr. Austin Mitchell
To ask the Chancellor of the Exchequer if he will introduce selective controls on credit to reduce the rate of inflation in house prices. 
§ Mrs. Angela Knight
I have no intention of introducing selective credit controls for housing. The objective of monetary policy is to achieve underlying inflation in the lower half of the 1 to 4 per cent. range by the end of this Parliament and to keep it at 2½ per cent. or less thereafter. The growth in house prices is one of the many indicators I assess when determining what the appropriate level of interest rates is to achieve the inflation target.