§ 31. Mr. Knoxasked the Chancellor of the Exchequer when he expects that the United Kingdom will join the European monetary system.
§ Sir Geoffrey HoweThe United Kingdom is a member of the European monetory system, although we do not at present take part in the exchange rate mechanism. We wish to do this in circumstances and at a time which are best for the Community and for the system, as well as right for our own economy, I cannot at present predict when this will be.