§ 21. Mr. Quentin DaviesTo ask the Chancellor of the Exchequer what representations he has received on the impact of his policies on the business environment; and if he will make a statement. [159899]
§ Mr. TimmsThe Government's central economic objective is to achieve high and stable levels of growth and employment. Over the past four years the Government have been determined that we will not return to the damaging cycle of boom and bust, which in the late 1980s and early 1990s saw interest rates rise to 15 per cent. for a whole year; and because of the choices we have made we now have the lowest inflation for 30 years, the lowest long-term interest rates for 35 years, and the lowest unemployment since 1975.
We will not take this hard-won stability for granted. Budget 2001 locked in economic stability for the future, with the fiscal stance at least as tight as set out in Budget 2000 and the pre-Budget report.
278WThe Government welcome representations made by the business community. This on-going and productive dialogue is essential to allow the Government to maintain their record of improvement of the business environment.
Following the Budget, the Government have received many representations that express continuing support for the Government's prudent approach to fiscal policy.