§ Mr. Andrew Smith
To ask the Chancellor of the Exchequer what work the Government have undertaken to facilitate the use of the ecu.
§ Mr. Nelson
[holding answer 6 February 1995]: Since 1988 the Government have issued ecu denominated debt. In addition to widening the options for management of the United Kingdom's reserves, this programme shows the importance the Government attach to providing further opportunities for the development of the private ecu markets in London.