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The Earl of Effingham (Con)

Speaking in the House of Lords on 23 July 2025

Debate

Financial Services Reform

Contribution

My Lords, the Minister mentioned how interest rates have been cut, and other noble Lords on the Government Benches have mentioned the same thing. Does he agree that the Bank of England dictates monetary policy, not the Government, and that the reason why the Bank of England has been cutting interest rates is because of clear evidence of a slowing economy, not because the Government’s policy is working?

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