Oral answer to question provided on Monday, 19 January 2009 in the House of Lords, by Lord Myners (Labour).
Economy: Exchange Rate
- Answer
-
My Lords, I do not think the market movement in sterling has an effect on the value of deposits. Many factors do, but that is not one within a domestic economy. Nor do I think that we are engaged in any way in a programme of competitive devaluations. Our exchange rate is set according to a free market.
This is an answer to the Oral question asked on Monday, 19 January 2009 by Lord Cobbold (Crossbench).
- Question
- My Lords, does the Minister agree that devaluing sterling is short-changing our depositors and that competitive devaluations were a very damaging feature of the 1930s?
Secondary information
- Type
- Oral answer to question
- Reference
- 706 c1441-2
- Session
- 2008-09
- Chamber / Committee
- House of Lords chamber
- Subjects
- Economic situation Sterling Exchange rates Currency realignment
- Link
- View this Oral answer to question on www.publications.parliament.uk
Librarians' tools
- Timestamp
- 2014-09-01 21:34:01 +0100
- URI
- http://data.parliament.uk/pimsdata/Hansard/PARLIAMENTARY_QUESTION_1384647/answer
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