Written question asked by Lord Gilbert of Panteg (Conservative) on Monday, 7 September 2026, in the House of Lords. It was due for an answer on Monday, 21 September 2026. It was answered by Lord Pitt-Watson (Labour) on Monday, 21 September 2026 on behalf of the Treasury.

Monetary Policy

Question: To ask His Majesty's Government, further to the Written Answer by Lord Pitt-Watson on 1 September (HL2691), what was the cost of obtaining the photographic licence to illustrate the HM Treasury accounts with the image of the Can’t we just print more money books; and whether HM Treasury endorses the book’s substantive recommendation on not printing more money as a tool of fiscal and monetary policy.

Answer: The image was selected from HM Government's approved image library because it was relevant to the subject matter discussed in the Annual Report and Accounts. In particular, it related to quantitative easing and the Bank of England Asset Purchase Facility Fund Limited (BEAPFF), which is associated with the most material elements of HM Treasury's accounts. The Government agrees that increasing the money supply cannot by itself increase the economy's productive capacity or sustainably raise living standards. The Government's monetary policy framework is based on the objective of maintaining low and stable inflation through an operationally independent Bank of England.

Secondary information

Type: Written question
Reference: HL3161
Session: 2026-27
Related items: Monetary Policy
Monday, 3 August 2026
Written questions
House of Lords; Treasury: Publications
Wednesday, 14 October 2026
Written questions
House of Commons
Subjects: Costs Licensing Publications Monetary policy
Contains statistics: Yes
Link: View this Written question on www.parliament.uk