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Section 5 of the European Communities (Amendment) Act 1993

I am listening to the hon. Gentleman with great interest, and he has evident expertise in matters European. Does he share my concern that one of the problems with our so-called convergence with Europe is the impact on our trade deficit with Europe, which, I understand, is large and growing? That might well be partly a consequence of the tremendous economic recovery in this country and competitive devaluation in Germany, but, given that we are meant to talk about convergence today, my concern is about the growing deficit in trade with our European partners.