§ Q40. Mr. Teddy TaylorTo ask the Prime Minister which of the conditions which were agreed at the Madrid meeting of the European Council as a basis for the United Kingdom joining the exchange rate mechanism of the European monetary system have not yet been met; and if she will make a statement.
§ The Prime MinisterThere has been significant progress on capital liberalisation, in competition policy and liberalisation of financial services, but further important decisions have yet to be taken. Further progress is needed to get inflation down.