HC Deb 24 July 1980 vol 989 cc341-2W
20. Mr. Norman Atkinson

asked the Chancellor of the Exchequer if he will seek powers to control the rate of interest.

Mr. Biffen

The monetary authorities seek to influence market interest rates consistently with meeting the Government's money supply target.

26. Mr. Penhaligon

asked the Chancellor of the Exchequer whether he is satisfied with the effects of the 1 per cent. reduction in interest rates.

Sir Geoffrey Howe

It is difficult to isolate the effects of such a change; moreover, it will be some time before it has its full impact. But so far I am content, and satisfied, that it is consistent with our monetary objectives.

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