§ Mr. CashTo ask the Prime Minister (1) how much the Government have(a) spent and (b) propose to spend in relation to the euro by way of (i) direct mail shots, (ii) pamphlets and information circulars, (iii) advertising on radio and television and (iv) schools information. [56939]
(2) what moneys have been (a) spent and (b) allocated by Her Majesty's Government towards circulating literature relating to the euro and to the preparation for the euro and to promoting awareness of the implications of the euro. [57006]
§ The Prime MinisterThe single European currency will be introduced in 11 countries in Europe on 1 January 1999. The eurozone will form a market of nearly 300 million customers, and will account for about one-fifth of the world economy. It is by far the most important marketplace for UK business, accounting for around 50 per cent. of our total exports.
The Government's communication campaign on the euro is aimed at ensuring UK businesses, especially small and medium firms, are aware of the implications of the introduction of the single currency from 1 January 1999 and have the information they need to prepare.
To meet this objective, the Treasury Euro Preparations Unit received Summer Supplementary Estimate provision of £7.5 million for 1998–99. Spend to date has been approximately £0.5 million for direct mailing to 1.6 million UK SMEs, £0.5 million for the printing of factsheets and flyers, and £3.8 million for the costs of radio and television advertising. These figures do not include VAT or postage.
Additionally, the Euro Preparations Unit (EPU) has advertised in the national and regional press, organised regional seminars and training programmes, and produced a number of publications. No information packs have yet been produced specifically for schools. We will look to do so in the future when it is appropriate.
172WDecisions on any further spending will be based on an assessment of the effectiveness of the current campaign.