HC Deb 25 March 2002 vol 382 cc749-50W
Mr. Vaz

To ask the Chancellor of the Exchequer what research is being carried out in his Department concerning the benefits of the single currency to the United Kingdom. [46174]

Ruth Kelly

As the Chancellor said in his October 1997 statement, the five economic tests will define whether a clear and unambiguous case can be made for UK membership of the single currency. The assessment of the five tests has not yet started, but the necessary preliminary analysis—technical work necessary to allow us to undertake the assessment within two years as promised—is under way.

Matthew Taylor

To ask the Chancellor of the Exchequer, pursuant to his answer of 29 January 2002,Official Report, column 224W, to the hon. Member for Yeovil (Mr. Laws), for what reason he is unable to specify the Treasury management units which are contributing to the evaluation of the five economic tests for membership of the euro; and if he will make a statement. [44931]

Ruth Kelly

I refer the hon. Member to the comments I made during the adjournment debate on the preliminary and technical work held on the floor of the House on 5 March 2002,Official Report, column 268.