§ 60. Mr. Budgenasked the Chancellor of the Exchequer whether he will encourage the expansion of trade by allowing the natural supply and demand for the 37W £ sterling to be reflected more freely in the rate of exchange.
§ Mr. LawsonIt is indeed the Government's policy that the exchange rate is and should be determined primarily by market forces. Intervention is confined to moderating excessive short-term fluctuations in the rate and preserving orderly market conditions.