HC Deb 10 December 1976 vol 922 c407W
Mr. Gow

asked the Chancellor of the Exchequer which Minister has special responsibility for ensuring that announced cuts in public expenditure are implemented in full.

Mr. Joel Barnett

The Chancellor of the Exchequer, assisted by the Chief Secretary, is responsible for the management of public expenditure.

Mr. Gould

asked the Chancellor of the Exchequer what effect the public sector deficit and the current level of public expenditure have on (a) interest rates, (b) the money supply, (c) the exchange rate, (d) the inflation rate and (e) the prospects for export-led growth.

Mr. Joel Barnett

All the quantities mentioned, including the public sector deficit and public expenditure, are mutually interdependent, and it is not possible to allocate responsibility for the level of any one of them among the others.