§ 14. Mr. SoamesTo ask the President of the Board of Trade what discussions she has had with the Chancellor of the Exchequer in respect of the impact of the current level of interest rates on British industry. [35986]
§ Mrs. BeckettThe Monetary Policy Committee of the Bank of England is responsible for setting interest rates at the level necessary to meet the Government's inflation target. British industry needs economic stability based on low inflation in order to allow firms to plan and invest with confidence.