§ Mr. Stephen O'BrienTo ask the Chancellor of the Exchequer pursuant to his answer of 3 July,Official Report, column 370W, on European Economic Convergence, what research he has commissioned into using discretionary fiscal policy to offset inflationary pressures; and if he will publish the results of this research. [127615]
§ Mr. BoatengThe Treasury published a paper "Fiscal Stabilisation and EMU" that included a discussion of these issues.
§ Mr. Stephen O'BrienTo ask the Chancellor of the Exchequer pursuant to his answer of 14 July,Official Report, column 132W, on European Economic Convergence, what the element of pre-commitment is. [127616]
§ Mr. BoatengIn the context of my answer of 14 July,Official Report, column 132W, on European Economic Convergence, and with reference to the discussion paper "Fiscal Stabilisation and EMU", the element of pre-commitment refers to the institutional arrangements 102W that would be put in place to demonstrate that stabilisation policy was credible, symmetric and consistent with sound public finances.