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Section 5 of the European Communities (Amendment) Act 1993

I beg to move,

That this House approves, for the purposes of Section 5 of the European Communities (Amendment) Act 1993, the Government’s assessment as set out in Budget 2014 and Autumn Statement 2013, combined with the Office for Budget Responsibility’s Economic and Fiscal Outlook (2014) and Fiscal Sustainability Report (2013), which forms the basis of the United Kingdom’s Convergence Programme.

I welcome this opportunity to listen to Members’ views on the information that will be provided to the Commission this year under section 5 of the European Communities (Amendment) Act 1993. As in previous years, the Government will inform the Commission of the UK’s economic and budgetary position in line with our commitments under the European Union’s stability and growth pact. The Government plan to submit their convergence programme today, with the approval of both Houses.

The convergence programme explains the Government’s medium-term fiscal policies, as set out in the 2013 autumn statement.