§ Mr. Andrew SmithTo ask the Chancellor of the Exchequer if he has established a programme to utilise the additional Community funds for economic recovery agreed at the Edinburgh European Council; and if he will list the projects to be submitted for funding.
§ Sir John CopeThe Edinburgh declaration covered many national and Community measures, the cumulative effect of which is intended to boost confidence, growth and jobs, so as to promote recovery. Such recovery would bring with it many new projects, particularly in the private sector, but it is of course impossible separately to identify all those arising as a direct result of the proposals agreed at Edinburgh. One particular proposal agreed was the establishment of a special 5 billion ecu facility within the European investment bank to provide finance for infrastructure projects within the Community. The EIB has already approved a number of loans from this facility, including some projects in the United Kingdom.