§ Mrs. MayTo ask the Chancellor of the Exchequer what is the minimum time required by the Royal Mint to mint sufficient coins for the United Kingdom to be ready to introduce a European single currency. [3538]
§ Mrs. LiddellThe European Council in Madrid in December 1995 agreed that the introduction of euro banknotes and coins in any individual country should take place up to three years after it adopts the single currency, and up to almost four years after the decision on whether it meets the necessary conditions to participate. The Royal Mint has estimated that sufficient coins could be produced within this timescale.
§ Mr. GreenTo ask the Chancellor of the Exchequer what representations he has received from British industry on the desirability of the United Kingdom entering a European single currency. [3326]
§ Mrs. LiddellMy right hon. Friend has received a number of representations from British industry, on a wide range of subjects.
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§ Mr. Nigel JonesTo ask the Chancellor of the Exchequer what assessment he has made of the impact of progress toward meeting the criteria for the single currency on the ability of the Treasury to be millennium compliant; and if he will make a statement. [3139]
§ Mrs. LiddellThe Treasury has work in progress to identify and test its computer system to ensure that they will operate correctly at the turn of the century. This work is currently within the model timetable set down by CCTA.
The Government will seek to provide an economic environment built on the solid foundations of prudent economic management, sound finance and active employment measures to enhance job opportunities and employability. These policies are consistent with the Maastricht criteria of low inflation and sound public finances. Pursuing these policies has no impact on the ability of Treasury's computer systems to operate correctly at the turn of the century.