Interest Rates

Part of Oral Answers to Questions — Treasury – in the House of Commons am 12:00 am ar 13 Mawrth 1997.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Kenneth Clarke Kenneth Clarke The Chancellor of the Exchequer 12:00, 13 Mawrth 1997

That is the first opinion that I have heard expressed on interest rates from any Opposition Member, so it is a start. With the greatest respect to the hon. Gentleman, I will not take his advice on monetary policy. We have achieved an inflation rate of below 4 per cent. for more than four years, which is the best performance this country has seen for almost 50 years. The OECD survey said Inflation performance over the past 4 years has been remarkably good. I am determined that it will remain as good for the next four years, once we get this Government back in office.