It is the UK which has taken the lead in the Community in calling for the creation of the Single Market, control of agricultural spending, and reform of the budget. We have made important advances
in all three areas.
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Aleady we have taken over a third of the 300 Single Market measures listed in the Commission White Paper of 1985. Most recently agreement on the liberalisation of capital movements will mean the removal of all exchange controls. Thus the Community is following a trail blazed by this Government in 1979.
Our priorities now are for further liberalisation - of finance, transport and telecommunications. We shall be pressing for further
progress at the Rhodes summit next week.
The prize is great. A Europe of 320 million consumers in the largest trading bloc in the world. Up to 1.7m new jobs in the medium term. More competition, greater freedom for enterprise conditions which lie at the heart of this country's economic success story. A Europe open for business, externally as well as internally - fortress Europe is not part of our vision.
The February European Council meeting saw important progress with other British objectives for the Community.
We reached agreement with our partners on greater budget discipline, including a legally binding ceiling on agricultural spending. Meanwhile agricultural stabilisers have started to reduce Community surpluses butter
stocks are down by 80%, for example.
Because the UK envisages a Europe of growing prosperity and international authority, we have worked to develop political co-operation in the Community. We want Europe's political stature
in future to match its economic stature.
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Political co-operation is now an important element of Community business. This country gains from the exercise of Europe's influence, for instance, in trade negotiations with the US and
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