Green Pound

Part of Oral Answers to Questions — Agriculture, Fisheries and Food – in the House of Commons at 12:00 am on 20 June 1991.

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Photo of John Gummer John Gummer Secretary of State for Agriculture, Fisheries and Food 12:00, 20 June 1991

Certainly. With the single market and Britain's membership of the exchange rate mechanism, we are moving towards a point where we shall be rid of the old green pound system. That is more proof—if proof is needed—that co-operation within the European Community is the way to achieve such ends. We have been successful, but that success was built on hard negotiation and a real understanding of Britain as being in the centre of the Community and not sidelined.