§ Mr. LilleyTo ask the Chancellor of the Exchequer if he will list the studies referred to in paragraph 3.8 of his Department's document "UK Membership of the Single Currency-An Assessment of the 5 Economic Tests". [32071]
§ Mrs. Liddell[holding answer 2 March 1998]: The paragraph referred to discusses the evidence on exchange rate volatility and investment. It says that while there is some evidence that greater exchange rate volatility leads to lower investment, it is not conclusive.