EU: Economic Governance

Lord Harrison Excerpts

Wednesday 27th October 2010 Lords Chamber

[Lord Sassoon]

My Lords, the critical point is that the sanctions that apply apply only to the eurozone members. They do not apply to the UK, which has a specific carve-out and will continue to have a carve-out, as now reconfirmed. There are no sanctions that apply to the UK.

[Lord Harrison]

My Lords, I inform the Minister that Sub-Committee A of your Lordships’ European Union Select Committee, which I have the pleasure of chairing, is currently undertaking an examination of proposed EU economic governance in the light of the Van Rompuy report and the earlier Commission statement. We hope to report in the first quarter of next year. Will the Minister elaborate on the United Kingdom’s position on treaty change? I listened carefully to what he said, which was that he would not entertain any such change where the Government believed that the United Kingdom’s independence was compromised in any way. If a treaty change were proposed that would strengthen the eurozone—a common ideal across the House—would the Government entertain it?

[Lord Sassoon]

My Lords, if anybody proposes a treaty change that has not yet been proposed, it will be considered on its merits. To be completely clear, any proposed treaty change that has any suggestion of transferring powers from the UK to Europe will be subject to a referendum. If something is proposed, we will look at it on its merits and respond accordingly.