Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 16 January 1997.
I can assure the right hon. Gentleman that that is one of the factors that my right hon. and learned Friend the Chancellor takes into account when setting interest rates. The right hon. Gentleman will also be aware that we receive many representations from business, commerce and individuals about all aspects of the British economy. I can assure him that they are delighted by our inflation performance. They are also delighted that our interest rates are low, mortgage rates are at their lowest level for almost 30 years, more people are in work and we have a lower unemployment rate than any other major European country. That is the sort of economy that we have created in this country—one in which companies can prosper and thrive and individuals can expect jobs and achieve improved living standards.