§ Mr. Matthew BanksTo ask the Chancellor of the Exchequer if he will make a statement on the recent Council meeting of the Economic and Finance Ministers of the European Union. [12926]
§ Mr. Kenneth ClarkeI represented the UK at the Economic and Finance Council of the European Union in Brussels on 22 January.
There was a public debate on the incoming Italian presidency's work programme. The Italian programme concentrates on continuing work towards economic and monetary union and fighting unemployment. I agreed with both these priorities and in particular stressed the importance of member states creating the right conditions to stimulate employment. I also encouraged the Council to respect EC budgetary restraints and to make rapid progress in the campaign against fraud and waste within the Community.
The Commission presented a proposal for extending the mandate for the European investment bank to lend to Asia and Latin America, which expired at the end of 1995, for one year. There was no discussion and the Council will return to this at a later date.