§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer by how many points United Kingdom interest rates have been reduced(a) since leaving the exchange rate mechanism and (b) between joining the ERM and August 1992.
§ Mr. Nelson[pursuant to his reply, 19 October 1992, c. 188]: On the level of United Kingdom bank base rates, bank base rates were reduced by a further 1 per cent. to 8 per cent. on 16 October.