§ Mr. Tim Rentonasked the Chancellor of the Exchequer whether the fall in sterling over the past three months is related to the growth of domestic credit expansion.
§ Mr. Robert SheldonMarket pressures on sterling have reflected a wide array of economic factors. The most important of these, in my view, was the differential between our inflation rate and that of our principal trading partners, though in some later phases market pressure developed a momentum of its own which could not be justified by underlying economic factors.
§ Mr. Ian Stewartasked the Chancellor of the Exchequer on what criteria he based his judgment that the parity of sterling had been carried on to an unjustified level 7th June, (Official Report, c. 914).
§ Mr. Robert SheldonI shall let the hon. Member have a reply as soon as possible.