HC Deb 22 April 1998 vol 310 c631W
Mr. Mitchell

To ask the Chancellor of the Exchequer how the rate of exchange for sterling's entry to EMU will be determined. [39326]

Mrs. Liddell

In accordance with Protocol 11 of the Treaty on European Union, the UK Government have informed the Council that they do not intend to move to the third stage of economic and monetary union on 1 January 1999. The Government will consider the question of how the exchange rate for sterling's entry to EMU will be determined if and when we decide to join.