Question to the HM Treasury:

To ask His Majesty's Government what plans they have, if any, to expand the Bank of England's remit to include focusing on growth and the overall health of the economy, as well as bearing down on inflation.

The Government has no plans to change the remit of the Monetary Policy Committee (MPC).

Subject to maintaining price stability, the MPC’s secondary objective is to support the economic policy of the Government, which is to “restore broad based and resilient growth built on strong and secure foundations”. The MPC regularly states that it sets monetary policy to meet the 2% inflation target “in a way that helps to sustain growth and employment”.

Low and stable inflation is essential for long-term economic growth, so the MPC has the Government’s full support as it acts to return inflation to target sustainably.