Single European Currency

HC Deb 07 March 1996 vol 273 cc337-8W

11. Mr. David Evans

To ask the Chancellor of the Exchequer if he will undertake a study of the implications of the length of time taken from the decision to introduce decimalisation to its introduction for the introduction of a single currency. [17628]

Mr. Waldegrave

If we were to take part in a single currency in 1999, we would be committed to the timetable agreed by the European Council in Madrid in December 1995.

19. Mr. Corbyn

To ask the Chancellor of the Exchequer what assessment he has made of the effects of a single European currency on Government spending in Britain. [17637]

Mr. Kenneth Clarke

It is not immediately obvious that there need be any effects on Government spending, but it is too early to assess the possible impact of a single currency. A full assessment of the costs and benefits will be carried out nearer the time, when the facts are known.