European Union (Amendment) Bill

I wonder whether the noble Lord remembers a debate that he and I had on Sky television at the time of the Maastricht ratification procedure. He made the statement, which made the front page of the Observer the following Sunday, that if Maastricht was carried through, the British Chancellor of the Exchequer would have no more powers than the treasurer of a rate-capped local authority. That was 16 years ago. Does he still hold with that proposition?