§ Mr. Peter BottomleyTo ask the Chancellor of the Exchequer, pursuant to his answer of 19 February,Official Report,column 577,what assessment he has made of the contribution of (a) indirect taxes and (b) imported raw material prices to recent reductions in inflation and unemployment. [17907]
§ Mrs. Angela KnightIndirect taxes and imported raw material prices are just two of the many factors that affect inflation and unemployment. In particular, the appropriate use of monetary policy and labour market reforms have played an important role in achieving recent reductions in inflation and unemployment. It is difficult to quantify the precise effects of each of these factors.