asked the Chancellor of the Exchequer if he will now redefine his monetary strategy for the remainder of the current financial year, and state whether it is intended to be passive, or if less than passive, the extent to which it is intended to be less than passive.

To ensure that sufficient money is available to finance the growth of real output for which we are planning, but to avoid exacerbating inflationary pressures by excesssive growth of the money supply.