asked the Chancellor of the Exchequer if he will make a statement about the meeting of the European Community Finance Council in Brussels on 15 November.

I represented the United Kingdom at this Council. Ministers considered a Commission communication on investment promotion, together with an opinion from the Economic Policy Committee. They concluded that a pre-condition for a revival of investment was the creation of the right macroeconomic background. A copy of the Council conclusions on this point will be placed in the Library.The Council also heard a presentation by the Commission on its proposal for a Council decision to authorise a further tranche under the new Community instrument of 3,000 million ecu—about £1,650 million.the Council also had an exchange of views in preparation for the Joint Council of Finance and Employment Ministers the following day.