HC Deb 15 February 1990 vol 167 cc334-5W
24. Ms. Quin

To ask the Chancellor of the Exchequer what recent representations he has received from business in relation to British membership of the exchange rate mechanism of the European monetary system.

Mr. Ryder

My right hon. Friend and I have received a number of representations.

31. Mr. Doran

To ask the Chancellor of the Exchequer what realignments there have been within the past 12 months of currency levels within the exchange rate mechanism of the European monetary system.

Mr. Ryder

In the last 12 months, there has been one realignment of the exchange rate mechanism on 8 January 1990, involving a narrowing of the lira's margin of fluctuation from ©6 per cent. to 2¼ per cent.

54. Sir David Steel

To ask the Chancellor of the Exchequer what is the average inflation rate of countries participating in the exchange rate mechanism of the European monetary system.

Mr. Major

Using data which exclude estimates of owner-occupier housing costs to provide figures on a more comparable basis, the average inflation rate of countries in the exchange rate mechanism of the EMS was 4.2 per cent. in November 1989.

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