§ 16. Mr. Heathcoat-Amoryasked the Secretary of State for Trade and Industry what progress he is making together with other European Economic Community Ministers in securing a free market for insurance within the European Economic Community.
§ Mr. ChannonFinance Ministers discussed the proposed directive on freedom to provide non-life insurance last week. Negotiations are continuing on this directive, and on this and in general we shall continue to press for rapid progress towards a free Community market for insurance.
§ Mr. Heathcoat-AmoryWhen will the EEC give substance to its claim to be a common market? When will the European Court take effective action against those countries which continue to block our insurance industry? The British people are becoming tired of paying an expensive membership fee to a club which continues to block our trade in that way.
§ Mr. ChannonNo one would dispute what my hon. Friend has said. There are four court cases pending. The 289 British Government are intervening in each of them. I am told that the oral hearings in the first two cases have been set down for next March.
§ Mr. GouldThe Minister has again fobbed us off with a meaningless answer on that point. Our trade with the EEC in manufactures is running at an annual deficit of £9 billion. Is it not time that he insisted that we had proper access for the British insurance industry and other providers of financial services to the Common Market? Has he not allowed the Germans and others who have been obstructive for such a long time to get away with it for far too long?
§ Mr. ChannonI have given the best and most truthful answer to the House. Whether the hon. Member likes it is neither here nor there. It is all very well for him to say that I must insist on certain things taking place. He knows perfectly well that there is no way of insisting in this case. Nothing will happen until those court cases are settled. He knows that just as well as I do. There is no point in pretending otherwise.
§ Mr. BudgenWhen did the EEC first promise to secure a free market for insurance?
§ Mr. ChannonI cannot give my hon. Friend a definite answer, but my view is that we are entitled to freedom of insurance under the Treaty of Rome.
§ Mr. HefferIs the Minister aware that it is difficult enough to get money out of insurance companies in this country? It would be a dead loss to try to get money out of insurance companies in the EC countries.
§ Mr. ChannonMy idea is that British companies should have more opportunities abroad, rather than the other way round.