HC Deb 20 November 1997 vol 301 cc284-5W
34. Mr. Bradsahw

To ask the President of the Board of Trade if she will make a statement on the progress of the committee set up to prepare for British entry into EMU.[15426]

Mrs. Roche

In his statement on 27 October,Official Report, columns 583–88, my right hon. Friend the Chancellor of the Exchequer announced the establishment of a Standing Committee to oversee and co-ordinate preparations for EMU. Preparation is vital given the implications for the UK of the participation of other Member States in the single currency and for the option of joining in the next Parliament. The Committee's tasks over the next few months will include organising a series of conferences to inform businesses of the need to prepare, assessing the steps needed to help firms trade in euro in 1999, and starting longer-term planning for the option of joining.