Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the effect of quantitative easing on the allocative efficiency of UK financial markets.

The UK’s monetary policy framework, set out in the Bank of England Act 1998, gives operational responsibility for monetary policy to the independent Monetary Policy Committee (MPC). Decisions on the use of monetary policy tools, including quantitative easing, are for the judgement of the MPC.