Skip to main content

Sterling

Volume 226: debated on Wednesday 16 June 1993

The text on this page has been created from Hansard archive content, it may contain typographical errors.

To ask the Chancellor of the Exchequer what has been the effect of the depreciation of sterling against the ecu since September 1992 on the sterling value of European Community funding for regional and social policy initiatives; and if he will make a statement.

The main sources of funding for the Community's regional and social policies are the structural funds. Structural fund allocations are made in ecus; and the depreciation of sterling against the ecu since September 1992 is likely to result in a higher level of sterling receipts than otherwise would have been the case.