§ Mr. Andrew TurnerTo ask the Chancellor of the Exchequer by how much, since the introduction of the euro, interest rates have changed in(a) each country in the EU, (b) the US and (c) Japan. [26004]
§ Ruth Kelly[holding answer 11 January 2002]: The changes in interest rates in these countries since the start of 1999 are as follows:
82W
Percentage 1 January 1999 10 January 2002 Euro area1 3 3.25 UK2 6.25 4 Sweden3 3.40 3.75
Percentage 1 January 1999 10 January 2002 Denmark4 3.5 3.25 USA5 4.75 1.75 Japan6 0.25 0.001 1 Key financing rate 2 Bank of England base rate 3 Riksbank repo rate 4 Discount rate 5 Federal Funds rate 6 Unsecured overnight call rate
§ Mr. Andrew TurnerTo ask the Chancellor of the Exchequer by how much the value of the euro against(a) the pound sterling, (b) the US dollar and (c) the Japanese yen has changed since its introduction. [26002]
§ Ruth Kelly[holding answer 11 January 2002]: The information is as follows:
Exchange rate comparisons 1 January 1999 9 January 2002 UK £ to euro 0.706 0.617 US dollar to euro 10174 0.889 Japannes yen to euro 132.5 117.8
§ Mr. Andrew TurnerTo ask the Chancellor of the Exchequer what steps he will take to ensure that measures taken to control bureaux de change and prevent money laundering are applied to retail outlets accepting eurodenominated notes and coins. [26008]
§ Ruth Kelly[holding answer 11 January 2002]: All UK institutions and persons are obliged, by law, to report to the proper authorities any financial transactions linked to terrorism or drug trafficking which they become aware of in the course of their trade, business or profession. Retail outlets, along with the rest of the population, are covered by this obligation, irrespective of the currency in which the payment is made.
§ Mr. Andrew TurnerTo ask the Chancellor of the Exchequer by how much(a) the retail prices index, (b) GDP, (c) unemployment, (d) employment and (e) taxation as a proportion of GDP or equivalent, has changed since the introduction of the euro in (i) each country in the EU, (ii) the US and (iii) Japan. [26003]
§ Ruth Kelly[holding answer 11 January 2002]: International data on retail prices and gross domestic product are available in "Economic Outlook", OECD (eds.). Data on unemployment and employment can be found in "Employment Outlook", OECD (eds.). Information on taxation as a proportion of GDP can be found in "OECD Revenue Statistics 1965–2000". All of these publications are available in the Library of the House.
§ Mr. Andrew TurnerTo ask the Chancellor of the Exchequer by how much average incomes have changed, since the introduction of the euro, in(a) each country in the EU, (b) the US and (c) Japan. [26005]
§ Ruth Kelly[holding answer 11 January 2002]: International comparisons of disposable income per capita are available in "Main Economic Indicators", OECD (eds.). Comparisons of wage levels across OECD 83W countries are available in "Taxing Wages", OECD (eds.). These publications are available in the Library of the House.
§ Mr. AllenTo ask the Chancellor of the Exchequer if he will calculate how much it would cost to supply every household in the United Kingdom with a free sterling to euro calculator. [24958]
§ Ruth KellyThe Government's policy on membership of the single currency is unchanged. The determining factor underpinning any Government decision on membership of the single currency is the national economic interest and whether the economic case for joining is clear and unambiguous.
§ Mr. RandallTo ask the Chancellor of the Exchequer what his estimate is of the amount of public money which has been spent on preparing British business for the arrival of the euro. [26946]
§ Ruth KellyDetails of expenditure on business euro preparations were set out in the Treasury's Fifth Report on Euro Preparations, published on 4 November 2001. Copies of this were deposited in the Library of the House.