HC Deb 09 June 1997 vol 295 cc298-9W
Mr. Redwood

To ask the Chancellor of the Exchequer if he will make a statement about the requirements of the Maastricht treaty as regards price stability following monetary union. [499]

Mr. Gordon Brown

Article 105 of the EC Treaty statesThe primary objective of the ESCB (European System of Central Banks) shall be to maintain price stability. Without prejudice to the objective of price stability, the ESCB shall support the general economic policies of the Community with a view to contributing to the achievement of the objectives of the Community as laid down in Article 2.