§ Mr. Wrigglesworthasked the Chancellor of the Exchequer if he will make a statement in the House before introducing any new system to replace minimum lending rate, or to replace the present system of selling Government stock.
§ Mr. Denzil DaviesMy right hon. Friend will continue to keep the House fully informed about the development of monetary policy. But, because of the problems inherent in managing financial markets, it is not always possible to make statements in the House in advance of the implementation of policy measures.
§ Mr. Wrigglesworthasked the Chancellor of the Exchequer (1) if he has had any discussions with the Bank of England about the possibility of offering Government stock by tender instead of by the present tap system;
(2) if he has had any discussions with the Bank of England about the possibility of ending minimum lending rate and returning to the old style Bank rate.
§ Mr. Denzil DaviesTreasury Ministers and officials are in regular contact with the Bank of England concerning operational and structural aspects of monetary policy.