HC Deb 10 March 1998 vol 308 c105W
Mr. Mitchell

To ask the Chancellor of the Exchequer what criteria have been adopted by(a) Her Majesty's Government and (b) the Commission of the European Community for determining that borrowing by national, regional and local governments and other publicly-funded bodies for investment which is to be included in those percentages of gross national product to be used as target figures for qualification for entry to Stage Three of Economic and Monetary Union. [33209]

Mrs. Liddell

Capital spending by central Government and local authorities increases the general government financial deficit and the stock of general government gross debt, the deficit and debt measures that are used in the excessive deficits procedure of the Maastricht treaty. There are no special criteria in the treaty that apply to publicly funded capital spending by national, regional and local governments and other publicly funded bodies.

Mr. Mitchell

To ask the Chancellor of the Exchequer if he will make it his policy that no extra funding should be made available to EMU members to offset any impact of EMU on employment, wages and growth. [33287]

Mrs. Liddell

There are no such proposals.