The Economy and European Affairs — 20 May 1997

I beg to move, as an amendment to the Address, at the end of the Question, to add:

"but humbly regret that there is no mention in the Gracious Speech of the healthy economic climate in the country with rising living standards, low inflation, public finances moving towards balance and further falls in unemployment; deplore the Government's granting of operational independence to the Bank of England without any Parliamentary debate or statement; and urge the Government not to sign the Social Chapter, introduce a minimum wage, or to damage the United Kingdom's flexible labour market in any way by adopting European labour and social legislation."

We have all wasted millions of hours on getting PFI projects together. Sadly, however, the Paymaster General also said that Departments should not expect any increase in their capital budgets. If that is the case, local authorities are lost. If they are not allowed to borrow, and if there is to be no change in the current rules, investment in capital projects in constituencies such as mine will simply stop. That is a major task, which I hope that Ministers will tackle.

Question put, That the amendment be made:--

The House proceeded to a Division --

The House having divided: Ayes 156, Noes 446.

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