§ Mrs. Renée Shortasked the Prime Minister if, in order to bring relief to householders affected by the increase in building societies' mortgage rates he will initiate discussions with the heads of Governments in Western Europe about monetary and fiscal policies, with a view to bringing about a general reduction in interest rates.
§ The Prime MinisterMy right hon. Friend the Chancellor of the Exchequer emphasised the undesirable implications of the present high level of world interest rates at the Annual Meeting of the International Monetary Fund and in subsequent discussions with the Finance Ministers of other countries. The subject has also been fully discussed at other international economic meetings, at which Her Majesty's Government is represented, and I think our trading and financial partners are well aware of our views.