§ Mr. WilkinsonTo ask the Chancellor of the Exchequer (1) what budgetary allocations he is making for the financial years(a) 1996–97, (b) 1997–98 and(c) 1998–99 for preparations by the Royal Mint to produce coins and banknotes for circulation in the United Kingdom denominated in euros; [16058]
(2) what expenditure he has approved to date for officials of the Royal Mint to attend meetings of European Commission working parties in Brussels to prepare for the introduction of a single European currency; and if he will continue to approve such expenditures for this purpose in the future. [16059]
§ Mr. Kenneth ClarkeNo specific provision has been made for expenditure by Her Majesty's Treasury on preparations for single currency coins by the Royal Mint. The Royal Mint operates as a trading fund and takes budgeting decisions on a commercial basis. Preparations for single currency notes are the responsibility of the European Monetary Institute, and involve the national central banks of EU member states, including the Bank of England. The Government are committed to playing a full role in preparations for economic and monetary union, given the implications for the UK—including possible commercial opportunities for the Royal Mint—whether or not we participate in the single currency.