§ 73. Mr. Knoxasked the Chancellor of the Exchequer if he will make a statement about progress towards closer economic integration in the European Community.
§ Mr. Ian StewartMost member states are now agreed that pursuit of sound monetary and fiscal policies is necessary to promote greater economic convergence and sustained growth in the Community. The creation of a single market for goods and services as provided for in the Treaty of Rome would be a substantial step towards closer economic integration and improved resource allocation. The United Kingdom has given strong support to a series of measures to remove internal barriers which are being discussed in the Council of Ministers. We are also participating actively in work under way on possible moves towards closer financial integration.