HL Deb 12 January 1998 vol 584 cc142-3WA
Lord Tanlaw

asked Her Majesty's Government:

Whether potential inward investors to the United Kingdom are made aware of an approximate date for entry into the Economic and Monetary Union; and an approximate date for harmonisation of British Standard Time (BST) with Central European Time (CET).

Lord McIntosh of Haringey

As the Chancellor said in his statement of 27 October 1997, it is sensible for business and the country to plan on the basis that, in this Parliament, we will not enter a single currency.

But, if the single currency is successful and the economic case for joining is clear and unambiguous, then the Government believe that Britain should be part of it. We need to prepare intensively during this Parliament, so that Britain will be in a position to make a decision to join EMU, should the Government, Parliament and the people so decide, early in the next Parliament.

I understand from my right honourable friend the Secretary of State for Home Affairs that there are no present plans for the United Kingdom to move to Central European Time.