§ Lord Tebbit
asked Her Majesty's Government:
Whether they expect to adopt before 1st January 1999 multiannual programmes intended to ensure the lasting convergence necessary for the achievement of economic and monetary union, in particular with regard to price stability and sound public finances.
The Minister of State, Department of Transport (The Earl of Caithness)
The Government's medium term financial strategy (MTFS) set out in March involves a multiannual framework for defeating inflation on a lasting basis and maintaining sound public finances. The multiannual convergence programme submitted by the UK to ECOFIN on 15th November 1991 consisted of copies of the 1991 MTFS and 1991 Autumn Statement.