HC Deb 30 November 2000 vol 357 c753W
Mr. Geraint Davies

To ask the Secretary of State for Trade and Industry if he will make a statement on the EU inter-Governmental legal requirements of transferring the assets of the European Steel and Coal Community to the European Community budget. [141281]

Mr. Alan Johnson

At the Amsterdam Council in 1997 and in two further Council decisions in 1998 and 1999, it was unanimously agreed by EU member states that when the ECSC expires in July 2002 its assets should be transferred to the European Community budget and used to fund research into the coal and steel sectors. These industries fully support this decision since the ECSC's assets derive from the ECSC levy paid by them until 1997. The Legal Services of the Council of the EU have advised that such a transfer cannot be achieved under the Treaty Establishing the European Community as it stands, as there is no legal provision for it. Member states all agree that the forthcoming inter-governmental conference meeting in Nice should be invited to adopt, as part of the Nice Treaty, a protocol which will be attached to the Treaty Establishing the European Community. This will enable the transfer to take place. Parliament will be asked to ratify the protocol before it comes into force.