Part of Oral Answers to Questions — Prices and Consumer Protection – in the House of Commons at 12:00 am on 11th October 1976.

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Photo of Mr Roy Hattersley Mr Roy Hattersley , Birmingham Sparkbrook 12:00 am, 11th October 1976

It is impossible, and were it possible it would be reckless, to make estimates which would be guesses about future movements, particularly if they were as specific as that. Perhaps our overwhelming obligation is to stabilise the relationship between the pound and the dollar. That is as important to people who buy their shopping and purchase goods and groceries every week as it is to every other section of the community, because it reflects in the RPI. I promise that later this afternoon my hon. Friend will hear a robust account of how we are carrying out policies that will defend the rate.