§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what account is taken of the level of employment in the Government's policy on increases in the money supply.
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§ Mr. NelsonIt is the role of monetary policy to deliver low inflation. Decisions are based on an assessment of a range of indicators including the money supply and estimates of spare capacity in the economy. The minutes of the monthly monetary meetings with the Governor of the Bank of England set out the basis for monetary policy decisions and are now published.