I beg move 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 the Budget Report and Autumn Statement, combined with the Office for Budget Responsibility’s Economic and Fiscal Outlook and Fiscal Sustainability Report, which forms the basis of the United Kingdom’s Convergence Programme.
After four days of debating the Budget I am sure the whole House will welcome a further opportunity to debate the UK economy, given 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 inform the Commission of the UK’s economic and budgetary position as part of our participation in the EU’s stability and growth pact. The convergence programme explains the Government’s medium-term fiscal policies as set out in the 2015 autumn statement and Budget 2016. It also includes the Office for Budget Responsibility forecasts. As such, it is based entirely on previously published documents that have been presented to Parliament. It is the content, not the convergence programme itself, that requires the approval of the House for the purposes of the 1993 Act.