Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what plans he has to review his Department's policies in light of the relative gain in strength of the Euro against sterling.

The UK has an inflation target, not an exchange rate target, and the Government does not express a view on the level of the exchange rate. Instead, the exchange rate is allowed to adjust flexibly in response to economic conditions and movements in sterling are determined by market forces.

There will be a period of adjustment as the economy responds to the vote to leave the European Union. The UK is well-placed to deal with the challenges, and take advantage of the opportunities, that lie ahead.