§ Mr. Forman
asked the Chancellor of the Exchequer if he will make a statement about the meeting of the European Community Finance Council in Luxembourg on 24 October.
§ Mr. Lawson
I represented the United Kingdom at this Council.
Ministers examined a number of economic and monetary issues, including non-life insurance, in preparation for the European Council in December. I stressed that insurance was an area to which the United Kingdom attached great importance and urged that the December Council should commit the Community to early agreement on a truly liberal non-life insurance services directive. The discussion will be reported to the Special Council in Athens on 9 to 12 November: and Ministers will discuss these issues further at the November Finance Council.
The Commission presented its annual economic report on the economic situation in the Community: this will be discussed in detail at the December Finance Council The Commission also presented their proposal for an experimental scheme of European innovation loans.
In addition, Ministers discussed briefly the question of EMS interest rate subsidies and international monetary questions following the IMF annual meeting in Washington in September.