§ Mr. MitchellTo ask the Chancellor of the Exchequer what account is taken in calculating the percentage of public expenditure and its control within the deficit limits of the Maastricht Treaty convergence criteria of that part of public investment projects co-funded by national or local government and funds of the European Community; and if he will place in the Library documents showing the relevant methodology and the outturn calculations for the last available three financial years. [5565]
§ Mr. DarlingThe Maastricht Treaty convergence criteria set a reference level for the general government financial deficit of 3 per cent. of gross domestic product. All general government investment expenditure is included in the calculation of the deficit, irrespective of source of funding, as are net contributions to the European Union.