Interest Rates

Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 13th February 1986.

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Photo of Mr Nigel Forman Mr Nigel Forman , Carshalton and Wallington 12:00 am, 13th February 1986

Does my right hon. Friend agree that it is vital to the future of the economy to achieve lower and more stable interest rates? Towards that objective, at a time when the oil crisis is considerably less and the pound is competitive with the deutschmark, would it not be helpful to consider urgently the possibility of joining the exchange rate mechanism of the European monetary system?