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830506

registered interest
date	25/01/2018
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Exchange Rates
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what is their assessment of the performance of sterling in the last 12 months, in comparison to the dollar, the euro and the yen.
tabling member printed	Lord Kennedy of Southwark
uin	HL5112
answer	answer is ministerial correction date of answer 05/02/2018 answer text <p>The UK has an inflation target, not an exchange rate target, and the government does not express a view on the level of the exchange rate. The value of sterling adjusts flexibly in response to economic conditions and market forces.</p> answering member printed Lord Bates question first answered 05/02/2018 16:23:01 answering member 1091 label Biography information for Lord Bates
tabling member	4153 label Biography information for Lord Kennedy of Southwark

809774

registered interest
date	19/12/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Exchange Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessments his Department has made of the implication for its policies of the devaluation of sterling since June 2016.
tabling member constituency	Cardiff North
tabling member printed	Anna McMorrin
uin	120394
answer	answer is ministerial correction date of answer 08/01/2018 answer text <p>The government does not express a view on the level of the exchange rate. The value of sterling adjusts flexibly in response to economic conditions and market forces. The Monetary Policy Committee independently sets monetary policy, including interest rates, to achieve the objective of price stability, currently defined as an inflation target of 2 per cent.</p><p> </p><p>The government will continue to monitor economic developments closely, while at the same time taking steps to promote economic growth and support individuals and businesses.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 08/01/2018 16:51:50 answering member 4095 label Biography information for Steve Barclay
tabling member	4632 label Biography information for Anna McMorrin

758386

registered interest
date	06/09/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Exchange Rates
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they are taking, if any, to ensure that the pound sterling does not fall below parity with the euro.
tabling member printed	Lord Lea of Crondall
uin	HL1390
answer	answer is ministerial correction date of answer 18/09/2017 answer text <p>The UK has an inflation target, not an exchange rate target, and the government does not express a view on the level of the exchange rate. The value of sterling adjusts flexibly in response to economic conditions and market forces.</p> answering member printed Lord Bates question first answered 18/09/2017 11:50:43 answering member 1091 label Biography information for Lord Bates
tabling member	2482 label Biography information for Lord Lea of Crondall

756723

registered interest
date	04/09/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Exchange Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of the UK leaving the EU on the Pound to Euro exchange rate.
tabling member constituency	Carmarthen East and Dinefwr
tabling member printed	Jonathan Edwards
uin	7690
answer	answer is ministerial correction date of answer 12/09/2017 answer text <p>The UK has an inflation target, not an exchange rate target, and the government does not express a view on the level of the exchange rate. The value of sterling adjusts flexibly in response to economic conditions and market forces.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 12/09/2017 10:55:01 answering member 4095 label Biography information for Steve Barclay
tabling member	3943 label Biography information for Jonathan Edwards

756724

registered interest
date	04/09/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Exchange Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of the UK leaving the EU on the Pound to US Dollar exchange rate.
tabling member constituency	Carmarthen East and Dinefwr
tabling member printed	Jonathan Edwards
uin	7691
answer	answer is ministerial correction date of answer 12/09/2017 answer text <p>The UK has an inflation target, not an exchange rate target, and the government does not express a view on the level of the exchange rate. The value of sterling adjusts flexibly in response to economic conditions and market forces.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 12/09/2017 10:50:52 answering member 4095 label Biography information for Steve Barclay
tabling member	3943 label Biography information for Jonathan Edwards

673696

registered interest
date	16/01/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Exchange Rates
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what assessment they have made of the impact of the devaluation of the pound sterling since June 2016 on the financial wellbeing of retired UK citizens living in (1) the EU and (2) the rest of the world.
tabling member printed	Lord Jones of Cheltenham
uin	HL4688
answer	answer is ministerial correction date of answer 30/01/2017 answer text <p>The Government does not comment on currency movements.</p><p> </p><p>To support people in retirement, the Government has increased the basic State Pension to its highest proportion of average earnings for 25 years. The annual index-linked increase was paid to eligible UK State Pension recipients living within the European Economic Area, Gibraltar, Switzerland, and countries that have a social security agreement with the UK that allows for cost of living increases to the State Pension.</p> answering member printed Baroness Neville-Rolfe question first answered 30/01/2017 14:53:06 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	248 label Biography information for Lord Jones of Cheltenham

672683

registered interest
date	13/01/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Exchange Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of recent changes in the Sterling exchange rate on the resilience of the Government's stock of foreign currency reserves.
tabling member constituency	Bootle
tabling member printed	Peter Dowd
uin	59985
answer	answer is ministerial correction date of answer 18/01/2017 answer text <p>The government has been providing additional sterling financing for the foreign currency reserves since 2010. Total additional financing for the reserves between 2010-11 and 2016-17 stands at £48 billion.</p><p>A large proportion of the government’s foreign currency assets are hedged against exchange rate and interest rate changes.</p> answering member constituency Brighton, Kemptown answering member printed Simon Kirby question first answered 18/01/2017 17:29:36 answering member 3929 label Biography information for Simon Kirby
tabling member	4397 label Biography information for Peter Dowd

672297

registered interest
date	12/01/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Exchange Rates
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what steps they are taking in response to the fall in the value of the pound sterling; and what is their response to the reported intentions of some companies to raise the price of certain supermarket products to offset this fall.
tabling member printed	Lord Taylor of Warwick
uin	HL4635
answer	answer is ministerial correction date of answer 24/01/2017 answer text <p>The Government has a target for inflation, rather than the exchange rate, and does not comment on currency movements.</p><p>Monetary policy is the responsibility of the independent Monetary Policy Committee (MPC) of the Bank of England. The MPC has the primary objective, set out in law, of maintaining price stability and therefore monitors the general level of prices.</p><p> </p><p>Pricing decisions of individual retailers are taken on a commercial basis, and the Government does not seek to comment on these decisions.</p> answering member printed Baroness Neville-Rolfe question first answered 24/01/2017 12:22:55 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	1796 label Biography information for Lord Taylor of Warwick

642156

registered interest
date	22/11/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Exchange Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what effect recent changes in the sterling rate has had on the UK's contribution to the EU.
tabling member constituency	Westmorland and Lonsdale
tabling member printed	Tim Farron
uin	54314
answer	answer is ministerial correction date of answer 25/11/2016 answer text <p>Member States’ contributions to the EU Budget are made in national currency based on an exchange rate fixed on the last working day before the start of the EU Budget year. There are no subsequent changes to the exchange rate in that year. Recent changes in the exchange rate have had no impact on our payments to the EU in 2016.</p><p> </p><p>As the OBR set out in their November 2016 forecast, changes in the exchange rate will affect the sterling value of euro-denominated payments, abatements and receipts. Overall, the OBR have revised down their forecast for the UK’s net contribution to the EU, which includes receipts to the UK public sector, over 2016-17 to 2020-21 by £0.3bn.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 25/11/2016 10:46:36 answering member 1529 label Biography information for Mr David Gauke
tabling member	1591 label Biography information for Tim Farron

621129

registered interest
date	25/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Exchange Rates
house id	2
legislature	25277 pref label House of Lords
question text	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.
tabling member printed	Baroness McIntosh of Pickering
uin	HL2646
answer	answer is ministerial correction date of answer 03/11/2016 answer text <p>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.</p><p> </p><p>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.</p> answering member printed Lord Young of Cookham question first answered 03/11/2016 15:49:10 answering member 57 label Biography information for Lord Young of Cookham
tabling member	384 label Biography information for Baroness McIntosh of Pickering