§ 15. Mr. Cousins
To ask the Chancellor of the Exchequer if he will make a statement on the ways in which tax, spending and monetary policy are co-ordinated. 
§ Mr. Milburn
Effective monetary and fiscal policy co-ordination is assured by setting out policy objectives in an open and transparent way and through the Treasury observer at MPC meetings. The success of the arrangements is demonstrated by the fact that inflation is close to target, the public finances are in sound order and long-term interest rates are around their lowest level for 40 years.