HC Deb 08 December 1988 vol 143 cc297-8W
15. Mr. Martlew

To ask the Chancellor of the Exchequer if he will make a statement on the current rate of inflation.

Mr. Norman Lamont

The retail price index rose by 6.4 per cent. in the year to October 1988.

31. Mr. Hinchliffe

To ask the Chancellor of the Exchequer if he will make a statement on the current rate of inflation.

Mr. Lilley

The retail price index rose by 6.4 per cent. in the year to October 1988.

68. Mr. Win Griffiths

To ask the Chancellor of the Exchequer what assessment he has made of the principal factors increasing the inflation rate during the last year.

Mr. Lilley

Inflation has risen as a consequence of the very strong growth in demand this year. Recent tightening of monetary policy will ensure that inflation falls in 1989.

75. Mr. Alton

To ask the Chancellor of the Exchequer what action he intends to take to make up the shortfall on spending experienced by Departments committed to projects whose costs have risen through increased inflation.

Mr. Major

New plans were announced by my right hon. Friend the Chancellor of the Exchequer in his Autumn Statement on 1 November. Although the expected level of inflation was a factor that was considered when setting these plans, public expenditure is planned in cash terms and in general there is no automatic adjustment for higher prices. The planning total for 1989–90 remains £167.1 billion, the same level published in the last public expenditure White Paper. Within that unchanged total there is provision for substantial increases in spending on priority programmes.

84. Mr. Bellingham

To ask the Chancellor of the Exchequer what further steps he plans to take to reduce inflation.

Mr. Lilley

The progressive tightening of monetary conditions since the summer will exert downward pressure on inflation.

Back to