§ Lord Tebbitasked Her Majesty's Government:
Whether, in view of the statement by the Prime Minister of 12th December 1994 (HC Deb., col. 621) that "What is clear now is that, whereas before the Maastricht treaty many people had in mind the concept of a single currency right across membership of the European Union, that is plainly fatuous if the Union is to be extended to 27 members. It will be almost totally unlikely if it has 20 members and extremely unlikely for 15 members", they will now take steps to end funding by the United Kingdom taxpayer of preparation for this scheme.
§ Lord HenleyThe Maastricht Treaty specifies the process of preparation for a single currency during stage two of economic and monetary union, in which the United Kingdom and all other member states are participants. The Government will continue to fulfil their Treaty obligations. Under the UK protocol to the Treaty any decision to seek to join a single currency would be a matter for the UK Government and Parliament.