§ Mr. JackTo ask the Chancellor of the Exchequer, pursuant to his answer of 3 June,Official Report, column 147, if he will make a statement defining numerically what constitutes lasting economic stability for the financial years (a) 1997–98, (b) 1998–99, and (c) 1999–2000. [3335]
§ Mr. Geoffrey RobinsonLasting economic stability is built on prudent economic management and sound finance. The Government regard price stability as an essential pre-condition for high and stable levels of growth and employment. The Chancellor set out his inflation target in the remit to the Monetary Policy Committee on June 12 which can be obtained from the House of Commons Library. Sound public finances are also important for lasting economic stability. The Government's fiscal policy will be spelt out in the Budget on July 2, along with forecasts and projections for Government borrowing.