Economic and Monetary Union (Hansard, 25 March 1998)

§ Mr. Cousins
To ask the Chancellor of the Exchequer if he will list the date of the meetings of the standing committee chaired by the Minister for Trade and Competitiveness in Europe on United Kingdom preparedness for the introduction of the euro in the euro countries; if he will list the members of the committee and the interests which they have declared; and if he will place the minutes of the meetings in the Library. [35572]

§ Mrs. Liddell
[holding answer 23 March 1998]: The Standing Committee on preparations for EMU has met once, on 27 January. The meeting was chaired by the Chancellor of the Exchequer. Non-ministerial members of the Committee are the Governor of the Bank of England, the Chairman of the Financial Services Authority, the Head of the Home Civil Service, the President of the Confederation of British Industry, the President of the British Chambers of Commerce, the President of the British Bankers' Association and the General Secretary 203W of the Trades Union Congress. They all attended in their capacity as representatives of these organisations. A copy of the minutes of the meeting has been placed in the Libraries of both Houses. The next meeting is planned to take place in May: no date has been set.

§ Mr. Mitchell
To ask the Chancellor of the Exchequer if he will make a statement on the priority accorded to compliance with the Maastricht fiscal convergence criteria in determining his Department's(a) fiscal and (b) economic policies. [35207]

§ Mrs. Liddell
Economic stability based on low inflation and sound public finances is an essential precondition for high levels of growth and employment The "Financial Statement and Budget Report" published on 17 March 1998 shows that figures for the fiscal deficit and government debt as a ratio of GDP are already well below the 3 per cent. and 60 per cent. reference values set out in the Maastricht Treaty and are projected to remain below these levels.

§ Mr. Mitchell
To ask the Chancellor of the Exchequer if it is his policy to observe the requirements of the EMU stability pact in the period before joining EMU. [35213]

§ Mrs. Liddell
The Government's commitments with respect to the Stability and Growth Pact are set out in Council Regulations (EC) 1466/97 and 1467/97. The "Financial Statement and Budget Report" published on

Table 1: Number and percentage of basic and higher rate taxpayers by Scottish Unitary Authority

Scotland Number of basic rate taxpayers (thousands) Percentage of all taxpayers¹ Number of higher rate taxpayers (thousands) Percentage of all taxpayers¹

Aberdeen City 79 65.3 10 8.5

Aberdeenshire 73 69.2 17 15.8

Angus 42 70.7 5 7.7

Argyll and Bute 24 65.2 4 12.4

Clackmannanshire ²— ²— ²— ²—

Dumfries and Galloway 43 72.6 3 5.1

Dundee City 27 60.5 3 5.9

East Ayrshire 39 82.5 ²— ²—

East Dunbartonshire 40 67.2 8 13.1

East Lothian 39 73.1 4 8.2

East Renfrewshire 26 69.0 5 13.6

Edinburgh, City of 147 65.6 19 8.3

Eilean Siar ²— ²— ²— ²—

Falkirk 34 60.6 ²— ²—

Fife 113 76.3 8 5.7

Glasgow City 146 71.3 14 7.0

Highland 72 71.4 4 3.6

Inverclyde 26 68 ²— ²—

Midlothian 23 71.2 ²— ²—

Moray 28 76.8 ²— ²—

North Ayrshire 37 69.6 ²— ²—

North Lanarkshire 115 75.9 5 3.2

Orkney Islands ²— ²— ²— ²—

Perth and Kinross 34 59.2 7 12.5

Renfrewshire 61 73.8 5 6.1

Scottish Borders 33 72.6 4 9.1

Shetland Islands ²— ²— ²— ²—

South Ayrshire 36 76.8 4 8.7

South Lanarkshire 108 71.8 12 7.7

Stirling 20 57.5 4 11.8

West Dunbartonshire 31 82.9 ²— ²—

West Lothian 41 70.1 5 9.0

¹ All taxpayers includes people liable to tax at the lower rate as well as the basic and higher rate

² Sample size too low to make reasonable estimate

204W
17 March 1998 shows fiscal projections which are consistent with the terms of the European Union Stability and Growth Pact.

§ Mr. Mitchell
To ask the Chancellor of the Exchequer if he will make a statement on the extent to which the United Kingdom is in compliance with each of the Maastricht fiscal convergence criteria. [35206]

§ Mrs. Liddell
The "Financial Statement and Budget Report" published on 17 March showed that in 1997 the UK's general government financial deficit on a Maastricht basis was 1 3/4 per cent. of GDP and the general government gross debt on a Maastricht basis was 53 1/2 per cent. of GDP. Both of these figures are well below the 3 per cent. and 60 per cent. reference values set out in Protocol No. 5 to the Maastricht Treaty.

Table 1: Number and percentage of basic and higher rate taxpayers by Scottish Unitary Authority
Scotland	Number of basic rate taxpayers (thousands)	Percentage of all taxpayers¹	Number of higher rate taxpayers (thousands)	Percentage of all taxpayers¹
Aberdeen City	79	65.3	10	8.5
Aberdeenshire	73	69.2	17	15.8
Angus	42	70.7	5	7.7
Argyll and Bute	24	65.2	4	12.4
Clackmannanshire	²—	²—	²—	²—
Dumfries and Galloway	43	72.6	3	5.1
Dundee City	27	60.5	3	5.9
East Ayrshire	39	82.5	²—	²—
East Dunbartonshire	40	67.2	8	13.1
East Lothian	39	73.1	4	8.2
East Renfrewshire	26	69.0	5	13.6
Edinburgh, City of	147	65.6	19	8.3
Eilean Siar	²—	²—	²—	²—
Falkirk	34	60.6	²—	²—
Fife	113	76.3	8	5.7
Glasgow City	146	71.3	14	7.0
Highland	72	71.4	4	3.6
Inverclyde	26	68	²—	²—
Midlothian	23	71.2	²—	²—
Moray	28	76.8	²—	²—
North Ayrshire	37	69.6	²—	²—
North Lanarkshire	115	75.9	5	3.2
Orkney Islands	²—	²—	²—	²—
Perth and Kinross	34	59.2	7	12.5
Renfrewshire	61	73.8	5	6.1
Scottish Borders	33	72.6	4	9.1
Shetland Islands	²—	²—	²—	²—
South Ayrshire	36	76.8	4	8.7
South Lanarkshire	108	71.8	12	7.7
Stirling	20	57.5	4	11.8
West Dunbartonshire	31	82.9	²—	²—
West Lothian	41	70.1	5	9.0
¹ All taxpayers includes people liable to tax at the lower rate as well as the basic and higher rate
² Sample size too low to make reasonable estimate