Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate he has made of the effect of changes in the value of the pound against the Euro on UK holidaymakers between the months of July and September 2019.

It is not appropriate for the government to comment on specific currency market movements.

The government accepts the market-based price of sterling and does not have a view on what level this should be. Moreover, speculating on the value of sterling could hurt confidence in our macroeconomic framework.

It is important to remember that the UK’s macroeconomic framework is based on an inflation target, and it is for the independent Monetary Policy Committee to set monetary policy to meet this target.