HL Deb 10 June 2002 vol 636 c6WA
Lord Pearson of Rannoch

asked Her Majesty's Government:

Further to the Written Answer by Lord McIntosh of Haringey on 27 May (WA 128), what evidence they have for their belief that stability of:

  1. (a) exchange rates; and
  2. (b) the broader macroeconomic environment,

"create the best conditions in which United Kingdom business can thrive". [HL4597]

Lord McIntosh of Haringey

I refer the noble Lord to my Answer on 27 May (Official Report, col. WA128), and would add that economic instability in the past brought high and unstable long-term interest rates and high unemployment, constrained the capacity of the economy to expand supply potential and deterred companies from long-term investment.

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