§ Lord Gregson
asked Her Majesty's Government:
What was the outcome of the most recent meeting of the standing committee on preparations for European Monetary Union (EMU), and what preparations have been made by public authorities to prepare for the launch of the euro in other member states on 1 January 1999. [HL2428]
§ Lord McIntosh of Haringey
The standing committee on preparations for EMU met for the second time on 20 May. A copy of the minutes of the meeting has been placed in the Library of the House. Government departments and other public authorities have been engaged in a wide range of preparations for the launch of the euro in other member states on 1 January 1999, especially to help businesses in the UK meet the challenges of responding to the change in the business environment across Europe. A copy of a booklet,EMU: Steps for 1999, published by the Treasury on 18 May, which describes these activities and which responds to recommendations made by the Business Advisory Group on EMU has also been deposited in the Library.
Copies of a series of 10 factsheets to help businesses, especially small and medium-sized companies, to prepare for the launch of the euro on 1 January 1999 were sent by Lord Simon to all Peers on 15 June. The factsheets are being distributed to businesses through a variety of channels, including trade and business associations and a dedicated telephone line.