§ Mr. BercowTo ask the Prime Minister what sorts of unforeseen circumstances were envisaged when adding that caveat to his statement that the United Kingdom will not join the Euro Zone during the present Parliament. [80165]
§ The Prime MinisterIn his statement to the House of Commons in October 1997, the Chancellor of the Exchequer set out five economic tests which will have to be met before any decision to join a successful single currency can be taken. Applying the economic tests, the Government believe there is no realistic prospect of the UK economy having demonstrated, before the end of this Parliament, convergence which is sustainable and settled. Barring any fundamental and unforeseen change in economic circumstances, making a decision, during this Parliament, to join is not realistic.
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§ Mr. BercowTo ask the Prime Minister which Minister is responsible for advising the Cabinet on whether the five economic tests for the United Kingdom participation in EMU have been met; and what consultation in respect of that advice will be undertaken. [80175]
§ The Prime MinisterThe Chancellor of the Exchequer has responsibility for United Kingdom policy on European Community monetary and economic issues. The final decision on whether or not the UK should join the single currency is for the British people in a referendum.
§ Mr. BercowTo ask the Prime Minister what staff have been tasked to monitor progress in passing the five economic tests for joining the euro. [80147]
§ The Prime MinisterHM Treasury is the department responsible for economic and monetary union issues.