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Session
X
1998-99
Type
House
Session
Year
Department
Member
Primary member
Answering member
Legislative stage
Legislation
Subject
Publisher
To ask the Secretary of State for Trade and Industry, what estimate he has made of the impact on industrial costs resulting from (a) a one per cent. revaluation of the pound and (b) a one per cent. increase in interest rates.
To ask the Secretary of State for Trade and Industry, what estimate he has made of the impact on industrial costs resulting from (a) a one per cent. revaluation of the pound and (b) a one per cent. increase in interest rates.
Asked by
Lord Redwood
(Conservative)
Answered by
Stephen Byers
(Labour)
Answering body
Department of Trade and Industry
Type
Written questions
Status
Answered
Tabled on
3 February 1999
For answer on
11 February 1999
Answered on
11 February 1999
Mr. Redwood: To ask the Secretary of State for Trade and Industry what estimate he has made of the impact on industrial costs
resulting from (a) a 1 per cent. revaluation of the pound and (b) a 1 per cent. increase in interest rates. [69812]
Mr. Byers: The tough and decisive action taken by the Government on macroeconomic policy, including giving the Bank of England
independence, will bring benefits to industry through long-term stability, in sharp contrast to the damaging cycle of boom and bust
that cost industry so dear under the last Government.
Subjects
Costs; Industry; Interest rates; Sterling; Currency realignment
Date
11 February 1999
Reference
69812; 325 c403W
House
House of Commons