Question to the HM Treasury:

To ask Her Majesty’s Government whether they consider that the operation of the Eurozone has had a positive effect on the United Kingdom economy.

As the Chancellor said at the Autumn Statement, Britain – as one of the most open trading economies in the world, with a large financial sector – is not immune to the risks of the global economy. This is particularly true of the euro area, the UK’s largest trading partner, which accounts for 40 percent of exports.

While significant steps have been taken by the euro area to place itself on a more sustainable footing, its economy weakened in the second half of 2014, with inflation extremely low and unemployment stubbornly high.