§ Mr. Brian David JenkinsTo ask the Chancellor of the Exchequer what response he has made to representations from the CBI regarding the economic disadvantages to the United Kingdom of the United Kingdom not entering into European monetary union. [19468]
§ Mr. Kenneth Clarke[holding answer 19 March 1997]: The Confederation of British Industry makes representations to me about a wide range of issues, including the potential advantages and disadvantages of the UK's possible participation in economic and monetary union. The Government and Parliament have a choice, thanks to protocol No 11 to the EC treaty, on whether the United Kingdom should participate in the single currency. The CBI's own surveys suggest that business leaders in the UK support the need to have this choice. The Government are committed to full involvement in negotiations on EMU, to protect the commercial and other interests of the United Kingdom whether or not we participate.
§ Mr. Bernard JenkinTo ask the Chancellor of the Exchequer, pursuant to the oral answer to the hon. Member for Milton Keynes South West, (Mr. Legg) of 12 March,Official Report, column 353, under which provisions of the treaty on European Union on the EC would launch the third stage of EMU on a date after 1 January 1999. [20504]
§ Mr. Clarke[holding answer 17 March 1997]: The timetable for establishing the first stage of EMU is set out in article 109j of the treaty. The European Council has said at Dublin that this will begin on 1 January 1999.