§ Mr. Tim SmithTo ask the Chancellor of the Exchequer what progress was made at ECOFIN on 19 May with discussions on the draft capital adequacy directive; and when he expects the directive next to be discussed and a common position to be reached.
§ Mr. Nelson[holding answer 2 June 1992]: I refer my hon. Friend to the report by my right hon. Friend the Chancellor of the ECOFIN on 19 May, at columns 279–82. The next meeting of the ECOFIN takes place on 9 June when the CAD is likely to be discussed further.