Lord Stern of Brentford
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Monetary Policy Committee
Lord Stern of Brentford Excerpts(13 years, 4 months ago)
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Lord Stern of Brentford
Would the Minister agree that we are fortunate that the Bank of England has taken account of the fragility of output and employment in the UK economy, and will he assure us that the Government will also take account of that fragility in setting their own policy?
Lord Sassoon
My Lords, I can confirm the first part of what the noble Lord, Lord Stern, says. What the Government will do is to stick to a very firm, clear deficit reduction plan as the background against which the Monetary Policy Committee can make its decisions with confidence.