HL Deb 27 February 2001 vol 622 cc121-2WA
The Earl of Northesk

asked Her Majesty's Government:

How they respond to the recently published proposals of the European Commission for an integrated European market in financial services by 2005. [HL802]

Lord Harrison

asked Her Majesty's Government:

How they will respond to the interim and final response of Baron Alexandre Lamfalussy and his committee of wise persons concerning the promotion of a single market in financial services. [HL830]

Lord McIntosh of Haringey

The Government agree with the Lamfalussy committee's analysis of the problems caused by absence of a single market in securities. We share the committee's desire to speed up and prioritise completion of a single market in financial services. The committee's proposals for reforming European work on securities markets are encouraging and the Government are studying the details very carefully. The proposals are due to be considered at Ecofin, and subsequently the Stockholm European Council.