Economic and Monetary Union

HL Deb 05 November 1997 vol 582 cc294-5WA

Lord Evans of Parkside

asked Her Majesty's Government:

Whether they have notified their European partners that the UK will not move to the third stage of economic and monetary union on 1 January 1999.

Lord McIntosh of Haringey

Following the Chancellor of the Exchequer's statement to the House of Commons on 27 October and in accordance with paragraph 1 of Protocol (No. 11) of the Maastricht Treaty, the Government formally notified the Council of the European Union on 30 October 1997 that the United Kingdom does not intend to move to the third stage of economic and monetary union on 1 January 1999. The Treaty enables the United Kingdom to reverse this notification after the beginning of the third stage.