§ 13. Mr. Win GriffithsTo ask the Chancellor of the Exchequer if he will make a statement on the impact of changes in the pound/ecu exchange rate on payment into(a) the EU budget and (b) the European development fund budget since 1992. [27045]
§ Mr. Heathcoat-AmoryBroadly speaking, exchange rate movements increased our payments into the Community budget in 1993 but reduced them in 1994. The effect in the present year is expected to be small.
The impact of changes in exchange rates on our payments into the European development fund depends on the timing of these payments.