HC Deb 06 June 1996 vol 278 c514W
Mr. Michael Brown

To ask the Chancellor of the Exchequer what is his policy in respect of the pound sterling eventually re-joining a system of managed exchange rates. [30795]

Mrs. Angela Knight

The Prime Minister has made clear on many occasions the Government's policy which is that the United Kingdom will not rejoin the ERM during this Parliament, and there is no question of us ever rejoining a rigid, old-style exchange rate mechanism.