HC Deb 25 January 1994 vol 236 c150W
Mr. Jim Cunningham

To ask the Chancellor of the Exchequer what forecast he has made of when Britain will be economically strong enough to reconsider rejoining the ERM.

Mr. Nelson

Sterling's re-entry to the ERM could not be considered until there is greater convergence between the monetary policies appropriate for all the Community economies. I should also need to be satisfied that the system would be operated to the benefit of all its members. I do not expect these conditions to be met during this Parliament.