HC Deb 29 October 1993 vol 230 c849W
Mr. Redmond

To ask the Chancellor of the Exchequer what review he is currently giving to membership by the United Kingdom of the ERM; and if he will make a statement.

Mr. Nelson

I have made it clear that sterling could not join the ERM for some time ahead—possibly not in this Parliament. Re-entry cannot be considered until there is greater convergence between the monetary policies appropriate for all the Community economies and I should also need to be satisfied that the system would be operated to the benefit of all its members.

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