HC Deb 07 April 1998 vol 310 c148W
Mr. Streeter

To ask the Chancellor of the Exchequer if he will make a statement on expenditure in the United Kingdom under European Communities budget line A-3501, Preparatory and Support Operations for the Achievement of Economic and Monetary Union. [36962]

Mrs. Liddell

Expenditure under this EC Budget line, which amounts to about £720,000 in 1998, is the Commission's own administrative expenditure. It does not involve expenditure in the United Kingdom. It covers support and evaluation studies and activities across the European Union relating to the implementation of economic and monetary union.

Mr. Bercow

To ask the Chancellor of the Exchequer what assessment he has made of the long-term effect of Economic and Monetary Union on the fiscal independence of Government policy for acceding states. [37567]

Mrs. Liddell

Fiscal policy will remain the responsibility of the Member States that participate in stage 3 of EMU, subject to the constraints of the Stability and Growth Pact.

Mr. Hammond

To ask the Chancellor of the Exchequer what assessment he has made of the findings of the European Monetary Institute on the suitability of member states for inclusion in European economic and monetary union, in respect of future enlargement of the Union. [36547]

Mrs. Liddell

The convergence report of the European Monetary Institute was published on 25 March. The Government are now considering this report alongside the convergence report produced by the European Commission, and the European Commission's recommendation on which countries should proceed to stage 3 of Economic and Monetary Union. Once we have considered its findings we will report to Parliament in line with the usual scrutiny procedures.

Mr. Ruffley

To ask the Chancellor of the Exchequer if he will make a statement on the future meetings to be held during the UK presidency of the EU concerning European Monetary Union. [36564]

Mrs. Liddell

Throughout the UK Presidency of the EU, the Ecofin Council will meet to consider preparations for Stage Three of EMU.

The key decisions on which Member States will join the single currency will be taken over the first weekend in May. The Commission and EMI convergence reports and the Commission's recommendation will form the basis for these decisions.

On 1 May Ecofin will assess which Member States fulfil the necessary conditions for the adoption of a single currency and will recommend its findings to Heads of State and Government (Article 109j(2) of the Treaty). On 2 May, Heads of State and Government will confirm, on the basis of the Ecofin recommendation, which Member States shall proceed to stage three of EMU.