Economic and Monetary Union (Hansard, 19 October 1998)

§ Sir Richard Body
To ask the Chancellor of the Exchequer if the EMU preparation unit in his Department will have access to funds to print material for general distribution. [55341]

§ Ms Hewitt
The Government's communication campaign on the euro, which is managed by the Euro Preparations Unit, is aimed not at the general public but at ensuring that UK businesses, especially small and medium sized firms, are aware of the implications of the introduction of the single currency from 1 January 1999.

§ Sir Richard Body
To ask the Chancellor of the Exchequer, pursuant to the answer to the hon. Member for Exeter (Mr. Bradshaw) of 16 June 1998,Official Report, column 135, if he will make a statement on the nature of his most recent discussions on the political implications of economic and monetary union with (a) EU colleagues and (b) hon. Members. [55390]

§ Ms Hewitt
The Chancellor continues to meet ECOFIN colleagues on a regular basis to discuss a wide range of matters relating to Economic and Monetary Union. Details of ECOFIN meetings are reported to the House.
The House debated all aspects of Economic and Monetary Union on 30 April 1998, Official Report, columns 477–519, in advance of the EMU Special council meeting held on 1–2 May. On 21 July 1998, Official Repot, columns, 978–1022 the House held a further debate on EMU as part of an Opposition day debate.
The Government recognise that membership of a single currency has important constitutional implications. We recognise that, to share a common monetary policy with other Member states represents a major pooling of economic sovereignty. But we believe that if the economic case for joining the single currency is clear and unambiguous, then Britain should be part of it. There is no constitutional bar to British membership of the single currency. Nevertheless, we have said that the constitutional implications of joining the single currency are such that any decision by the UK Government to join would require the endorsement of both Parliament and the British people in a referendum.

§ Sir Richard Body
To ask the Chancellor of the Exchequer what criteria will be used to select non-civil servants serving on the EMU preparation unit in his Department. [55344]

§ Ms Hewitt
The Chancellor of the Exchequer announced in November last year that the Euro Preparations Unit would be set up to raise awareness and encourage preparatory activity across the UK economy. The unit is staffed by officials from DTI, DfEE and HM Treasury as well as a secondee from HSBC Midland with extensive small business experience.