HC Deb 14 March 1996 vol 273 cc688-9W
Mr. Llew Smith

To ask the Chancellor of the Exchequer what estimate he has made of the effect on employment of the measures necessary to meet the budget deficit criteria for membership of the European monetary union. [20336]

Mr. Waldegrave

None. It is in any case the Government's objective to bring the public sector borrowing requirement back towards balance over the medium term. The achievement of sound public finances is a necessary condition for a sustained increase in employment.

Mr. Andrew Smith

To ask the Chancellor of the Exchequer if he will make a statement on the most recent recommendations made by the European monetary committee on the progress of the United Kingdom towards achieving the Maastricht convergence criteria for economic and monetary union. [20597]

Mr. Kenneth Clarke

Article 109c of the treaty on European Union explains the role of the monetary committee in preparing the work of the Council. The most recent Council recommendation on the progress of the UK towards achieving the Maastricht convergence criteria was the recommendation of 12 July 1995 with a view to bringing an end to the situation of an excessive deficit in the UK.