§ 1. Mr. Deakinsasked the Chancellor of the Exchequer if, when the European Economic Community Council of Ministers has decided on the level of farm prices for the coming year, he will then make and publish a revised estimate of the balance of payments cost of entry into the European Economic Community.
§ Mr. Maurice MacmillanI would refer the hon. Member to the answer I gave earlier today to my hon. Friend the Member for Derbyshire, West (Mr. Scott-Hopkins).
§ 26. Mr. Dixonasked the Chancellor of the Exchequer what measures he proposes to take to prevent leakages of capital from the United Kingdom to third countries, when the restrictions on portfolio investment to Common Market countries are removed.
§ Mr. HigginsI have nothing to add to what my right hon. Friend told my hon. Friend on 27th July, 1971.—[Vol. 822, c.52.]
§ 27. Mr. Scott-Hopkinsasked the Chancellor of the Exchequer whether he will be able to take part in the discussions of the newly-agreed economic and monetary committee of the European Economic Community Council of Ministers; and if he will support the proposal to create a European monetary unit of account.
§ Mr. HigginsThe Community has invited us to participate in the new official steering group to discuss short-term economic policies. This will enable us to keep in touch with developments in the interim period, and we will nominate a representative.
The E.E.C. Council has also asked for a study to be undertaken of a European fund for monetary co-operation. The United Kingdom will take part in the study which may include consideration of how such a fund might use a unit of account.