European Council

Part of the debate – in the House of Commons at 3:32 pm on 21 June 2000.

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Photo of Tony Blair Tony Blair Prime Minister 3:32, 21 June 2000

As the hon. Gentleman will know, the Treasury has published proposals to address the smuggling issue. Of course I understand the concern about petrol price rises—although it is not unique to the United Kingdom. It is fair to say that in the past year, the biggest rises have really had more to do with the price of oil than with fuel duties. None the less, there is a price differential between Northern Ireland and the Republic of Ireland. However, we have other benefits in our country. It is important to recognise that although it was painful to raise duties in that way, it was necessary to do so because of the very large deficit that we inherited. I do not believe that interest rates would be at 6 per cent. today if the public finances were not in such sound order.