§ Mr. AllenTo ask the Prime Minister if she will make a statement on the changes in economic circumstances which have taken place since 16 September.
§ The Prime MinisterSince 16 September there has been further evidence that sustained tight monetary policy backed by firm budgetary control has now checked demand growth and is reducing inflationary pressures in808W the economy. The Chancellor was able to announce, with effect from 8 October, a one-point reduction in interest rates and, at the same time, United Kingdom entry to the exchange rate mechanism of the European monetary system.