PUBLIC SPENDING AND THE EURO

Motion Text

That this House congratulates the Government on its increases over the past year in public spending on health, education, pensions and other essential services; notes that these increases would have been impossible if the United Kingdom had joined the first wave of the euro; and further notes that if the United Kingdom ever joined the euro it would lose control of fiscal policy as well as monetary and exchange rate policy, thus rendering it impossible for any future Chancellor to guarantee levels of taxation and public spending which best serve the national interest, as well as the level of interest and exchange rates appropriate to Britain's economic needs.