Private Borrowing

Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 28 February 1991.

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Photo of Mr Nicholas Budgen Mr Nicholas Budgen , Wolverhampton South West 12:00, 28 February 1991

Does my right hon. and learned Friend agree that when the savings ratio is running at about 5 per cent., it is a clear sign of an excessive boom, such as occurred between 1986 and 1988, but when it is running at 8·8 per cent., as it is now, that is a clear sign that domestic and national indicators point towards a further cut ill interest rates?