HC Deb 24 June 1999 vol 333 c458W
17. Mr. Robathan

To ask the Chancellor of the Exchequer if he will make a statement on the convergence criteria to be adopted prior to joining the single currency. [87073]

Ms Hewitt

The EC Treaty stresses the need for ahigh degree of sustainable convergence in EMU. The Government's fundamental economic test for EMU membership is the same. I have set out five economic tests which must be met before UK membership of the single currency can be considered. Our assessment of those tests concluded that the UK needs a period of stability in order to demonstrate convergence which is settled and sustainable. The Government's new macro-economic framework will help to deliver that stability.