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Economic And Monetary Union

Volume 300: debated on Wednesday 5 November 1997

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To ask the Chancellor of the Exchequer if he has (a) received and (b) requested advice on the subject of EMU from Mr. Gavyn Davies, chief economist of Goldman Sachs. [13410]

Since 1 May, and following the publication of the Lord Currie reports on EMU, Treasury Ministers and officials have received representations and information from a wide range of people, including Mr. Gavyn Davies.

To ask the Chancellor of the Exchequer what legal actions his Department is pursuing against newspapers regarding reports relating to trading in the period before the publication of Government briefing on EMU. [13408]

To ask the Chancellor of the Exchequer if the Government have notified their European partners that the United Kingdom will not move to the third stage of economic and monetary union on 1 January 1999. [14898]

Following my statement to the House on 27 October, Official Report, columns 583–88, and in accordance with paragraph 1 of Protocol (No. 11) of the Maastricht Treaty, the Government formally notified the Council of the European Union on 30 October 1997 that the United Kingdom does not intend to move to the third stage of economic and monetary union on 1 January 1999. The Treaty enables the United Kingdom to reverse this notification after the beginning of the third stage.

To ask the Chancellor of the Exchequer if it is the Government's intention to rejoin the European exchange rate mechanism two years prior to entering the third stage of EMU. [13775]

[holding answer 3 November 1997]: The Government have no intention of joining the ERM.