The Rt. Hon. Sir John Major KG CH

Prime Minister of Great Britain and Northern Ireland 1990-1997

1993Prime Minister (1990-1997)

Mr Major’s Doorstep Interview in New Delhi – 26 January 1993

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Below is the text of Mr Major’s doorstep interview in New Delhi held on Tuesday 26th January 1993.

QUESTION:

[Inaudible].

PRIME MINISTER:

I think the market conditions were right to cut interest rates. The Chancellor and I discussed the possibility last week and he judged it was right today and I am delighted he did. I think it is a good move. I think it will be good for confidence, good for investment, good for jobs.

QUESTION:

The news at home means there will be no publicity for your trip here in India.

PRIME MINISTER:

I am very happy that the interest rate is reduced. I think it is appropriate. That is the most important thing. I think the economy will benefit from the fact we have been able to reduce interest rates again and I think all this is adding to the climate of confidence that is so necessary for sustained investment and to return to a secure pattern of growth. That is what we seek.

QUESTION:

Do you support the United States move to have Germany and Japan join the permanent members of the Security Council?

PRIME MINISTER:

I think the most important thing about the Security Council is to make sure that Security Council continues to be effective. That is the most important matter. I am certainly happy to look at matters that make it more effective. I would not wish to do anything that made it less effective.

QUESTION:

Do you think Germany and Japan joining will make it more effective?

PRIME MINISTER:

I don’t know. There has been no discussion about this at all. I know the suggestion has been around for some time but it has not been the subject of any detailed discussion. I think you would have to change the United Nations mandate and a raft of other things but I dare say these are matters that will be discussed.

QUESTION:

Is there a worry that they will overbalance the European element and Britain might have to lose its place?

PRIME MINISTER:

No, I don’t think that is at all likely. I certainly don’t think that is likely but these are matters that would have to be discussed if there is a general will for them to be discussed but they are not new ideas, they have been around for some time.

QUESTION:

Does the interest rate cut set the scene for moves to help business and industry in the budget, Prime Minister?

PRIME MINISTER:

I am not going to anticipate the budget.