HC Deb 19 November 1984 vol 68 c41W
Mr. John M. Taylor

asked the Chancellor of the Exchequer if he is now in a position to make a statement about the implications for local authorities of the composite rate scheme for bank interest which was introduced by the Finance Act 1984.

Mr. Ian Stewart

Yes. It has been our intention from the outset that local authorities would be included in the

Nominal exchange rates per £ sterling Per cent. change *Real exchange rate 1980=100 Per cent.change
1976 (Oct.-Dec.) 1984 1976 (Oct.-Dec.) 1984
US dollar 1.6513 1.3968(d) -15.4 66.2 70.8(d) +6.9
Japanese yen 484.83 322.82(c) -33.4 73.0 81.9(c) +12.1
Deutschemark 3.978 3.810(b) -4.2 70.2 104.5(b) +49.0
French franc 8.3306 11.6394(c) +39.7 74.4 97.2(c) +30.5
Italian lira 1423.91 2385.00(a) +67.5 80.6 100.0(a) +24.1
Austrian schilling 28.24 26.63(c) -5.7 68.7 103.2(c) +50.3
Dutch guilder 4.1570 4.3687(a) +5.1 74.1 97.4(a) +31.5
(a) January-March.
(b) February-April.
(c) March-May.
(d) April-June.
* Relative export prices in common currency terms.

Sources: UN Monthly Bulletin of Statistics.

CSO Financial Statistics.