§ Mr. RedwoodTo ask the Chancellor of the Exchequer what steps the Government plans to take to implement its policy of a stable and competitive exchange rate. [37759]
§ Mrs. Liddell[holding answer 6 April 1998]: The Government believe in the value of a stable and competitive exchange rate over the medium term, consistent with the objective of price stability. The Government are pursuing sound, long-term macroeconomic policies, which is the only sure path to exchange rate stability.