RT HON ALISTAIR DARLING MP, MR DAVE RAMSDEN AND MR MARK BOWMAN

10 DECEMBER 2008

  Q380  Chairman: I understand, okay. One of the points is that it says that a spokesman said that the announcement would come from the Bank of England so the Chancellor would not necessarily have to make a Commons statement on the matter, meaning an announcement could be made after Parliament has risen for the Christmas recess. That is why it has been brought to our attention.

  Mr Darling: It is purely a bit of speculation in the newspaper; it is no more than that. Interest rates are still at 2%. They have a long way to come down yet.

  Q381  Chairman: I understand that, Chancellor.

  Mr Darling: I think we should not get too excited about a newspaper report.

  Q382  Chairman: It does say "a Treasury spokesman". It seems to add some significance to it.

  Mr Darling: I do not know what was asked of anyone in the Treasury press office. I was asked about this yesterday by, I think, somebody who works for The Guardian and I gave the same answer. I made the point that interest rates are at 2%, they have some way to fall, it is a matter for the MPC. This is pure speculation. It is another newspaper report. It is not something, frankly, that people should get too excited about.

  Q383  Chairman: But I think it is worth asking.

  Mr Darling: I do not mind you asking anything you want.

  Chairman: So if we come back after Christmas and we see it, it will not be speculation; is that right? Chancellor, can we thank you very much, and, Mr Ramsden, I am sure Mr Mudie will want to thank you very much for your good behaviour today. It is excellent to see you. Thank you.