§ Mr. Austin MitchellTo ask the Prime Minister, pursuant to his oral answer to the hon. Member for Faversham (Sir R. Moate) of 9 March,Official Report, column 782 (1) if he will list the provisions of the Maastricht treaty, as it applies to the United Kingdom delay in the implementation of which would lead to loss of foreign investment and jobs;
(2) what estimate he has made of the numbers and categories of jobs which would be lost (a) if ratification of the Maastricht treaty is delayed or (b) if the treaty is not ratified.
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§ The Prime MinisterVarious estimates have been made by and for industry of the adverse effect on our economy, inward investment and on jobs if the United Kingdom alone were to fail to ratify the treaty. Most recently the Association of British Chambers of Commerce, which represents more than 240,000 businesses, has made clear that the impact of continuing uncertainty or delay to United Kingdom ratification could only undermine business confidence, which would in turn endanger economic recovery not just here but in the rest of Europe.
The treaty is an important building block of the single market. Among its provisions, early implementation of which has been welcomed by industry, are those giving tougher powers to ensure that other member states stick to their obligations, those strengthening capital liberalisation, and those reversing centralisation by introducing the concept of "subsidiarity" or national preference.