Proceeding contribution from Mark Field (Conservative) in the House of Commons on Tuesday, 22 March 2011. It occurred during Debate on bill on Budget Responsibility and National Audit Bill [Lords].

Budget Responsibility and National Audit Bill [Lords]

It would probably be unwise for these provisions to be too wide. The credibility of inflation targeting would be undermined if the target were to be changed even on an irregular basis, if at all. As the hon. Member for Luton North (Kelvin Hopkins) said, the remit of the Bank of England covers not only inflation targeting but the greater interests of the overall economy. The latter remit is less well known than the former, but it is the reason interest rates have stayed at a very low level given the high levels of RPI and CPI that we are experiencing.

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Type: Proceeding contribution
Reference: 525 c882
Session: 2010-12
Chamber / Committee: House of Commons chamber
Subjects: Disclosure of information Audit Budgets Fiscal policy Economic growth Powers Public expenditure National Audit Office Public finance Treasury Social policy Office for Budget Responsibility
Legislation: Budget Responsibility and National Audit Bill (HL) 2010-12
Link: View this Proceeding contribution on www.publications.parliament.uk

Budget Responsibility and National Audit Bill [Lords]

Secondary information

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