Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department has made a recent assessment of the potential impact of quantitative easing on the rate of inflation.

Monetary policy, including quantitative easing, is the responsibility of the independent Monetary Policy Committee at the Bank of England. The Government fully supports the Bank in their mission to drive down inflation and is working closely with the Bank to ensure that fiscal and monetary policy are well coordinated.

The Government remains committed to monetary policy independence, and rightly does not comment on the conduct or effectiveness of monetary policy.