HC Deb 20 February 1997 vol 290 cc697-8W
Sir Raymond Whitney

To ask the Chancellor of the Exchequer what assessment he has made of the economic and commercial effects of British membership of a European single currency. [15052]

Mr. Kenneth Clarke

[holding answer 19 February 1997]: A hard-headed assessment of the economics and commercial effects of UK membership of the single currency will be made nearer the time, when it is necessary for a decision to be made on whether or not we should participate. At the moment, there are still considerable uncertainties, most notably on what degree of sustainable convergence will have been achieved by other member states.

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