Below is the text of Mr Major's written Parliamentary Answer on the ECOFIN Council on 13th June 1990.
Mr. Jack To ask the Chancellor of the Exchequer if he will make a statement on the outcome of the latest meeting of the European Community's Economic and Finance Council.
Mr. Major The ECOFIN Council met in Luxembourg on 11 June. The Paymaster General and I represented the United Kingdom. Future progress towards economic and monetary union was discussed and oral reports were heard from the chairmen of the central bank governors, monetary and economic policy committees and from President Delors. The Council agreed that it was important to ensure that stage 1 was successful and that more work was needed in how the Community might progress beyond that stage. It was agreed that Finance Ministers should be involved in the forthcoming intergovernmental conference on EMU. The presidency will submit a progress report to the European Council before its meeting on 25 to 26 June.
Political agreement was reached on a package of three corporate tax measures to encourage cross-
The Council also welcomed a report from the Commission on the main features of its new proposals for a system of VAT control and for the collection of infra-