§ Mr. CashTo ask the Prime Minister if he will list the criteria for determining the success of economic and monetary union in the context of determining a future United Kingdom application to join; and for how long that union must have been in operation in order so to judge. [39742]
§ The Prime MinisterThe economic tests were set out in the statement made by my right hon. Friend the Chancellor of the Exchequer to the House on 27 October 1997,Official Report, column 583.
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§ Mr. CashTo ask the Prime Minister what measures he is taking to ensure that the United Kingdom meets the five economic tests for participation in economic and monetary union. [39753]
§ The Prime MinisterThe Government's reforms to the Bank of England and the Code for Fiscal Stability will help to deliver the macroeconomic stability the UK economy needs to demonstrate sustainable and settled convergence.
In addition, the Government's programme of investing in education and training, helping people from welfare into work and improving the functioning of markets will deliver the flexibility the UK economy needs.