HC Deb 18 November 1998 vol 319 c590W
Mr. Win Griffiths

To ask the Chancellor of the Exchequer what response there has been from businesses to the Euro Preparation Unit's offer of free fact sheets to help small and medium businesses prepare for the launch of the euro. [60307]

Ms Hewitt

The Euro Preparation Unit's (EPU) business communication campaign on the euro, has proved highly effective in reaching its target audience of small and medium sized enterprises (SMEs). The result of the EPU's direct mailing to 1.6 million SMEs was a response rate of over 10 per cent. This is around three times the industry norm. To date there have been requests for over 300,000 "business preparations for the euro" factsheet packs from businesses and key intermediary bodies.

Ms Lawrence

To ask the Chancellor of the Exchequer if he will make a statement on the tax consequences of EMU. [60622]

Ms Hewitt

In July the Government announced a consultation on the technical tax changes needed to prepare for the introduction of the single currency in other Member States. The consultation was based on some initial proposals which had been developed through earlier dialogue with market participants.

In the light of comments received on the consultation, draft regulations have now been drawn up and are being published today. Copies have been placed in the Library. The Government are thus ensuring that business has every opportunity to ensure that the changes that will be enacted will meet its needs.