Manufacturing Industries

Treasury written question – answered at on 17 September 2012.

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Photo of Jim Cunningham Jim Cunningham Labour, Coventry South

To ask the Chancellor of the Exchequer what research his Department has undertaken to determine which monetary policy would be most conducive to growth in the UK manufacturing sector.

Photo of Sajid Javid Sajid Javid The Economic Secretary to the Treasury

The independent Monetary Policy Committee (MPC) of the Bank of England has operational responsibility for setting monetary policy in order to meet the inflation target in the medium term. Monetary policy is a macroeconomic tool used to affect the economy as a whole rather than to target support towards specific sectors.

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