Baroness Stuart of Edgbaston
Main Page: Baroness Stuart of Edgbaston (Crossbench - Life peer)Department Debates - View all Baroness Stuart of Edgbaston's debates with the HM Treasury
(14 years, 1 month ago)
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Mr Hoban
My hon. Friend makes an important point. I know that he thinks about these issues very deeply, and I would encourage him to read the final report of the taskforce. It sets out our exemptions explicitly, and he will recognise that they will protect the UK’s position and help to develop a strong and stable eurozone, which is also in our long-term economic interests. The document makes it clear that we are outside the sanctions regime that applies to members of the eurozone and others.
Ms Gisela Stuart (Birmingham, Edgbaston) (Lab)
I spent yesterday in Berlin talking to German politicians, and I think that the British Government will discover treaty changes pretty quickly. Those politicians feel that the stability and growth plan is dead, and that it is not the mechanism to take us forward. May I urge the Minister to answer a specific question? Given that 25 of the 27 member states either are members of the eurozone or will have to become members under treaty obligation, and that only two have an opt-out, does he agree that anything that would strengthen the financial and economic co-ordination of the 25, plus the two with opt-outs, would represent a diminution of our sovereign ability to exert our influence and would therefore be subject to a referendum here?
Mr Hoban
As I reiterated earlier—and as my right hon. Friend the Prime Minister has made clear—we will not endorse a treaty that transfers sovereignty from Westminster to the EU. The hon. Lady takes a close interest in these matters, and I know that she will recognise that views among member states about the desirability of treaty changes vary, and that the UK is not the only one that is concerned about this.