EU Growth and Stability Pact

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:30 pm on 28 February 2002.

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Photo of Mr Roger Casale Mr Roger Casale Labour, Wimbledon 12:30, 28 February 2002

I welcome my right hon. Friend's statement. Britain can take the lead in Europe in economic reform, and the reforms that he has discussed will be strongly beneficial to British companies and jobs and the British economy—not least in areas where we have a comparative advantage, such as energy and financial services. In looking to make those structural changes, will he also continue to press—as he said that he would—to make the stability pact more flexible? Does he accept that many on the Government Benches will say to him that we did not liberate this country from years of cuts in public services imposed by the Conservative party only to see public investment restraints reimposed as a result of the growth and stability pact?