§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer if it is his policy that there should be reporting of European Union national budget deficits to distinguish between(a) borrowing for net investment purposes and (b) borrowing to fund current expenditure; and if he will make a statement. [61068]
§ Mr. Byers[holding answer 30 November 1998]: Council Regulation 3605/93 sets out the budgetary reporting requirements for Member States. In assessing the national budget deficits, Article 104c(3) of the Maastricht Treaty states that the level of government investment expenditure should be taken into account.