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European Council

I am sorry to disappoint the hon. Gentleman but, although he may not have spotted it, we did not join the euro, and I do not anticipate that we are likely to do so in the foreseeable future. [Hon. Members: ““Ah!””] In this case, that is a long time. In any event, if there were a recommendation that we join, it would have to pass, first, the famous five tests announced on 27 October 1997 by my right hon. Friend the Chancellor, and then a referendum. The hon. Gentleman can therefore remain calm. On the more important point, the hon. Gentleman said that my claims about our economic progress had nothing to do with the Government. I am afraid that I disagree completely—it is to do with the Government. If, instead of advancing from the bottom of the G7 league table to second from top, we had gone the other way, he would say that that was all the Government’s fault, so we are entitled to claim the credit when we go the right way.