To ask the Chancellor of the Exchequer when he expects the European Union to change the mark or marking to market rules. (227657)

The International Accounting Standards Board and the European Commission have acted very expeditiously to introduce the necessary changes already.

The EU website carries full details of the changes

http://ec.europa.eu/internal_market/accounting/ias_en.htm.

These are summarised in a press release which can be found at:

http://europa.eu/rapid/pressReleasesAction.do?reference=IP/08/1513&fomiat=:HTML&aged=Q&language=EN&guiLanguage-en