§ 25. Mr. Geraint HowellsTo ask the Chancellor of the Exchequer which of the Madrid conditions concerning United Kingdom entry into the exchange rate mechanism of the European monetary system have yet to be fulfilled.
§ 33. Mr. BeithTo ask the Chancellor of the Exchequer if he will make a statement on progress towards fulfilling the Madrid conditions concerning United Kingdom entry into the exchange rate mechanism of the European monetary system.
§ Mr. RyderProgress has been made on capital liberalisation, on competition policy and on liberalisation of financial services. But further important decisions still need to be taken. For example, as yet only 60 per cent. of the measures contained in the original White Paper on the single market have been agreed at Community level. In the financial services field, the draft investment services directive is still under discussion and the associated capital adequacy directive has not yet been adopted by the Commission. Above all, we need to make more progress in reducing inflation here at home.
§ 27. Mr. RiddickTo ask the Chancellor of the Exchequer by what percentage(a) the French franc, (b) the Italian lira and (c) the pound sterling have been devalued against the deutschmark since the franc and lira joined the exchange rate mechanism.
§ Mr. RyderSince 13 March 1979, the French franc has depreciated by about 31½ per cent., the Italian lira by about 38 per cent. and the pound sterling by about 28 per cent. against the deutschmark.
§ 29. Mr. Simon HughesTo ask the Chancellor of the Exchequer if he has reviewed his policy on United Kingdom membership of the exchange rate mechanism of the European monetary system; and if he will make a statement.
§ 41. Mr. KirkwoodTo ask the Chancellor of the Exchequer whether he has reviewed the Madrid conditions for full United Kingdom membership of the exchange rate mechanism of the European monetary system.
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§ Mr. RyderI refer the hon. Friends to the answer my right hon. Friend gave earlier today to the hon. Member for Birkenhead (Mr. Field).
§ 36. Mr. DykesTo ask the Chancellor of the Exchequer if he will give his assessment of any disadvantages arising from United Kingdom participation in the European exchange rate mechanism.
§ Mr. RyderI refer the hon. Member to the statement by my right hon. Friend the Chancellor of the Exchequer in the Budget debate, 26 March,Official Report, column 117.
§ Mr. LeightonTo ask the Chancellor of the Exchequer if he will explain the details and conditions of the Central bank swap arrangements in the exchange rate mechanism of the European monetary system.
§ Mr. RyderI refer the hon. Member to section 3.8 of the resolution of the European Council of 5 December 1978 on the establishment of the European monetary system and related matters.