Exchange Rate Mechanism (Hansard, 28 November 1989)

HC Deb 28 November 1989 vol 162 c171W 171W

§ Mr. McFall
To ask the Chancellor of the Exchequer to what extent inflation will have to fall before the Government will consider entering the European exchange rate mechanism.

§ Mr. Lilley
As my right hon. Friend the Chancellor of the Exchequer has repeatedly made clear, sterling will join the exchange rate mechanism when, among other conditions, the level of United Kingdom inflation is significantly lower.

Pensions increase (per cent.) Paid in Based on movement of prices between

1989 5.9 April 1989 September 1988–September 1989

1988 4.2 April 1988 September 1987–September 1988

1987 2.1 April 1987 January 1986–September 1987

	Pensions increase (per cent.)	Paid in	Based on movement of prices between
1989	5.9	April 1989	September 1988–September 1989
1988	4.2	April 1988	September 1987–September 1988
1987	2.1	April 1987	January 1986–September 1987