To ask the Prime Minister, pursuant to the reply of the Lord President of the Council to the right hon. Member for Birmingham, Sparkbrook (Mr. Hattersley), Official Report, 26 June, columns 179–80, whether she will make a further statement on progress towards a single European currency.

The Government remain opposed to the imposition of a single European currency as prescribed in stage 3 of the Delors report. The Chancellor of the Exchequer set out the Government's alternative proposals for developments beyond stage 1 on 20 June. These include a new institution, the European monetary fund, and a common European currency, the hard ecu.