Pound and Euro Exchange Rate

HL Deb 17 July 2000 vol 615 cc63-4WA

Lord Shore of Stepney

asked Her Majesty's Government:

What, on the basis of purchasing power parities, they calculate the correct exchange rate should be between the pound sterling and the euro and the pound sterling and the dollar. [HL3196]

Lord McIntosh of Haringey

The Government do not produce estimates of purchasing power parity exchange rates nor estimates of what a "correct" sterling exchange rate should be.