The Economy

In the situation we face at the moment, where countries around the world, particularly those in the western world, face a challenge from the markets about their credibility, the countries with credibility have been able to keep their interest rates down and those without credibility have seen their interest rates rise. The right hon. Gentleman said that low ““long-term interest rates”” are"““the simplest measure of monetary and fiscal policy credibility””." I want to know whether he still believes that to be the case—yes or no?