European Union Economic Governance

Jacob Rees-Mogg Excerpts

Wednesday 10th November 2010 Commons Chamber

[Mr Hoban]

Nothing in the documents before us today does what my hon. Friend suggests. People should listen and read the documents to which we have subscribed, and understand how firm and robust the Government have been in defending our economic sovereignty.

[Jacob Rees-Mogg (North East Somerset) (Con)]

But does Mr Van Rompuy’s report not suggest that there should be a binding minimum set of requirements for national fiscal frameworks that would apply to all member states?

[Mr Hoban]

I think my hon. Friend is reading an earlier draft of the report, because we amended that language at the latest ECOFIN. I will come to this point in a minute, but we believe that fiscal frameworks should be political agreements and should not be driven by directives or regulations.