§ Mr. Woofasked the Chancellor of the Exchequer what estimate he has made of the increase in the cost to Great Britain of joining the European Economic Community as a result of floating the exchange rate of the £ sterling.
§ Mr. NottThere is no reason at present to depart from the estimates in Cmnd. 4715, "The United Kingdom and the European Communities."
§ Mr. Arthur Lewisasked the Chancellor the Exchequer what effects the floating of the £sterling will have on the holding of the European Summit Conference and the establishment of a common European currency.
§ Mr. NottThere is no reason why the decision that, as a temporary measure, sterling will be allowed to float should affect either the holding of the summit or future moves towards a common European currency, which has always been a matter for the long term.