European Council

Part of the debate – in the House of Commons at 1:08 pm on 24th March 2005.

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Photo of Tony Blair Tony Blair Prime Minister 1:08 pm, 24th March 2005

The most important thing in my view is to have a stability and growth pact that is actually based on a rational set of rules, and we have proposed changes—we have done so for a long period—to the pact that will allow us to take account, for example, of the need to borrow for investment over the cycle. We think that that is a more rational approach to deficits. We are also pushing for economic reform in Europe. I have to tell the hon. Gentleman that, yes, debates are going about these things the whole time, but the important thing is to be there and be part of them, and to ensure that we are not excluded from them and marginalised. I am sure that he would agree with that, which is why he should perhaps re-educate some of his Front-Bench colleagues.