§ 19. Mr. ClappisonTo ask the Chancellor of the Exchequer what recent representations he has received from exporters about the level of interest rates. [6197]
§ Mr. DarlingInterest rates are set to deliver the Government's inflation target. Low inflation and economic stability are in the interests of any successful business. I want a stable and competitive pound and the action my right hon. Friend the Chancellor and I have taken to tighten fiscal policy should help rebalance the economy.
§ 28. Sir Teddy TaylorTo ask the Chancellor of the Exchequer what advice he has received from the Governor of the Bank of England about the reasons for the recent increase in interest rates; and if he will make a statement. [6206]
§ Mrs. LiddellThe Bank of England is responsible for setting interest rates to meet the Government's inflation target.
In its press release of 6 June, the Bank of England stated that its decision to raise interest rates "… offers the best chance of achieving continued growth in output and employment at a sustainable pace."
Full minutes of the Monetary Policy Committee meeting, including a record of the voting, will be published on 16 July.