§ Mr. MansTo ask the Chancellor of the Exchequer what progress has been made in consideration of the Delors report on economic and monetary union in the European Community.
§ Mr. MajorThe Delors report suggests a three-stage process leading to economic and monetary union. The Government's acceptance of stage I, which will start on 1 July 1990, was reported by the Prime Minister in her statement on 29 June,Official Report, columns 1107–22. I have today laid before Parliament, and placed in the Library of the House and in the Vote Office, copies of a paper entitled "An Evolutionary Approach to Economic and Monetary Union". This paper sets out the Government's views on an alternative approach to stages II and III as described in the report by the Delors committee, and will be a contribution to discussion at Ecofin on 13 November.