Lord Inglewood – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Lord Inglewood on 2016-10-10.

To ask Her Majesty’s Government whether they have any plans to reintroduce exchange controls following Brexit.

Lord Young of Cookham

The UK has an inflation target, not an exchange rate target, and Her Majesty’s Government does not express a view on the level of exchange rates. Instead, the exchange rate is allowed to adjust flexibly in response to economic conditions and movements in sterling are determined by market forces.

This framework means we do not need to introduce exchange rate controls.