Biography Chronology Home Search Speeches/Statements

1987-1990 - Mr Major’s Written Parliamentary Answer on Sterling-Deutschmark Link

Below is the text of Mr Major's written Parliamentary Answer on Sterling-Deutschmark Link on 11th July 1990.


Mr. Teddy Taylor To ask the Chancellor of the Exchequer on what dates the pound sterling has been linked by Her Majesty's Government informally to the deutschmark at given rates of exchange since June 1983; what were the exchange rates on each given date; how long each arrangement was maintained; and if he will list the changes in the United Kingdom interest rates during each period of each informal link.

Mr. Major [holding answer 5 July 1990]: Tables 13.1 and 13.8 of the Central Statistical Office's monthly publication "Financial Statistics" give information on sterling's exchange rate against other major currencies and United Kingdom short-term interest rates, respectively.