HL Deb 27 May 2002 vol 635 cc127-8WA
Lord Pearson of Rannoch

asked Her Majesty's Government:

Whether exchange rate stability between sterling and currencies of the United Kingdom's main trading partners favours United Kingdom trade and investment with those partners; and what evidence they have for this. [HL4479]

Lord McIntosh of Haringey

The Government strongly believe that stability of both exchange rates and the broader macroeconomic environment would create the best conditions in which business can thrive. The effects of exchange rate stability on trade and investment cannot be determined without knowing the consequences for other economic indicators, such as inflation.