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Economic Expansion

Volume 82: debated on Tuesday 2 July 1985

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asked the Chancellor of the Exchequer if he will now make it his policy to expand the economy in anticipation of a United States recession.

There is no reason to expect a recession in the United States this year or next. As the 1985 Budget statement makes clear, the medium term financial strategy is as firm a guarantee against inadequate money demand in the United Kingdom as it is against excessive money demand. Both output and employment in the United Kingdom are currently growing at a substantial rate and the prospect is for further growth next year.