§ Mr. Austin Mitchellasked the Chancellor of the Exchequer what change in circumstances triggers a change in the central rate of currencies forming the exchange rate mechanism of the European monetary system.
§ Mr. Ian StewartExchange market pressures requiring an adjustment of central rates can stem from a number of sources. These include, in particular, the degree of convergence of economic performance and policies as regards inflation.
§ Mr. Austin Mitchellasked the Chancellor of the Exchequer what was the central rate of the exchange rate mechanism of the European monetary system (a) in September 1984 and (b) currently; and what change has taken place in the £ sterling's relationship to it in that period.
§ Mr. Ian StewartI refer the hon. Member to the answer I gave him on 3 July 1985, at column174.