Question to the HM Treasury:

To ask Her Majesty’s Government what assessment they have made of the impact of the volatility of sterling on savers, pensioners and other investments generally.

The Government does not have a target for the sterling exchange rate and does not comment on currency movements. Instead the exchange rate is allowed to adjust flexibly in response to economic conditions, and movements in sterling are determined by market forces.

We are going through a period of adjustment as the economy responds to the vote to leave the European Union. The fundamental strength of the UK economy means that it is well-placed to deal with the challenges and take advantage of the opportunities that lie ahead. The Government is working hard to lay the foundations for stable long term growth which will benefit savers, pensioners and all other groups.