§ Miss Melanie Johnson
The Government have taken firm action to lock in economic stability and open the way to steady growth. Sound public finances and low and stable inflation have greatly enhanced the ability of the UK economy to withstand adverse external shocks. In particular, the Government's symmetrical inflation target ensures that policy can respond quickly to risks on the downside, such as from an unforseen fall in equity prices, as well as to risks on the upside. The Government have also played a leading role in promoting macroeconomic stability across the world, to help reduce the likelihood of future global shocks.