§ Mr. Teddy Taylorasked the Chancellor of the Exchequer what assessment he has made of (a) the benefits and (b) the disadvantages which would accrue to the United Kingdom economy from linking sterling to the exchange rate mechanism of the European monetary system; and if he will make a statement.
§ Mr. Ian StewartA memorandum was submitted by Her Majesty's Treasury to the Treasury and Civil Service Committee during the course of its inquiry into the financial and economic consequences of United Kingdom membership of the European Communities (13th report, Session 1984–85, volume II). I have nothing to add to the considerations discussed therein.