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

With the greatest respect, the latest authoritative figures for European Union inflation show that we are below the average. Our record has been sustained throughout the recovery. I was the first Chancellor to publish this year the International Monetary Fund's article 4 annual report, which says: The inflation targeting framework for monetary policy has delivered impressive results. High inflation used to be an endemic weakness of the British economy, and tended to destroy our recoveries. The Government have tackled that problem successfully, which is why this recovery is so healthy.