§ Mr. Mitchell
To ask the Chancellor of the Exchequer what is the Government's policy on the exchange rate; what steps he has taken to ensure its implementation; and if he will make a statement. 
§ Mrs. Liddell
The Government want to see a stable and competitive pound over the medium term, consistent with their objective of price stability. Government policy is designed to achieve the low inflation and sound public finances which are necessary conditions for sustained exchange rate stability.