§ Mr. MacleanTo ask the Chancellor of the Exchequer if he will list the economic advantages of remaining outside the single currency; and what account he has taken of these in formulating policy on economic and monetary union. [73599]
§ Ms HewittIn his statement to the House of Commons on 27 October 1997,Official Report, columns 583–85, the Chancellor of the Exchequer set out the Government's policy on Economic and Monetary Union. He said that the potential benefits for Britain of a successful single currency are obvious in terms of trade, transparency of costs and currency stability. The determining factor as to whether Britain joins a single currency is the national economic interest and whether the economic case for doing so is clear and unambiguous.