Product Description: Examining some economic landmarks of the last 70 years, Lord Roll seeks to identify errors of policy which can be linked to the deteriorating performance of the British economy in relation to other industrialized countries. He also examines the failure to assess early enough the significance of the movement for European integration and the consequential errors of policy which culminated in our belated entry to the ERM and our ejection from it in 1992...read more

Product Description: This report comes out strongly in favour of a central bank free to set monetary policy; pursuing only price stability without Treasury control. Taking independence measures enacted since 1993 to their logical conclusion, it argues for the following: (1) Price stability to be the sole statutory objective of the Bank, which formulates and announces a medium-term target for inflation and controls short-term interest rates to achieve it...read more