Single European Currency

HC Deb 07 February 1996 vol 271 cc186-7W

Mr. Gordon Prentice

To ask the Chancellor of the Exchequer what sums have been allocated to each country in the European Union to publicise the benefits of a single European currency. [12602]

Mrs. Angela Knight

The Commission is organising publicity for the single currency, taking into account the circumstances in each member state. Community spending is not allocated on a member state basis. The Commission has confirmed that no publicity campaign promoting the single currency will be launched in the UK.

Protocol No. 11, annexed to the EC treaty, means that the United Kingdom shall not be obliged or committed to move to the third stage of economic union without a separate decision to do so by the Government and Parliament. We will agree to take part in a single currency only if it is in our national interest to do so, given the circumstances at the time.