§ 20. Mr. Nigel Lawsonasked the Chancelor of the Exchequer what is his target for the percentage growth in the money supply, as measured by M3, over the next 12 months.
§ Mr. DellMy right hon. Friend made clear in his Budget speech that it was his objective to keep the rate of growth of the money supply below the level at which it would add to inflationary pressures. It would give an element of undue rigidity to monetary policy to publish a specific figure.