§ 3. Mr. Jayasked the Secretary of State for Trade and Industry what steps he is 973 taking to protect the British insurance industry from the European Economic Commission's draft directives on insurance.
§ The Secretary of State for Trade and Industry (Mr. John Davies)Under general arrangements agreed with the Community, we are in active consultation with the Commission on matters affecting our insurance industry including the form directives might take.
§ Mr. JayWould not the directives be damaging to the British industry, particularly its overseas earnings? Will the right hon. Gentleman assure us that he will not accept them in their present form?
§ Mr. DaviesOnly one directive has yet been published, but three are in the course of preparation. On all these matters we are in discussion with the Commission. The directive already published has yet to be approved by the Council of Ministers, and if it is approved by the Council the interim procedure for consultation will come into force. I assure the right hon. Gentleman that we are actively in discussion with the Commission on these issues.
§ Mr. McCrindleIs my right hon. Friend aware that, far from viewing the onset of the EEC with foreboding, the British insurance industry looks forward to it with great anticipation and sees it self becoming the leader of European insurance immediately we become a member?
§ Mr. DaviesYes, Sir. The Government's preoccupation in this matter is to ensure that the maximum opportunity is available to the British insurance industry and not at all necessarily to protect it.
§ Mr. MartenWhat attitude are the Government adopting in the discussions taking place?
§ Mr. DaviesI thought that I had made it clear. The attitude of the Government is to try to ensure that the maximum opportunity is available to our industry on entry into the EEC, and that will, of course, be our general attitude.