HC Deb 03 July 2001 vol 371 cc124-5W
Mr. Redwood

To ask the Chancellor of the Exchequer what his preferred rate of entry is for the pound against the euro. [1640]

Mr. George Howarth

To ask the Chancellor of the Exchequer what assessment he has made of the optimum value of sterling in relation to the(a) DM, (b) euro and (c) dollar at which it would be most beneficial for the United Kingdom to enter the euro, provided that all other elements of his five economic tests are met; and if he will make a statement. [2106]

Mr. Boateng

The determining factor underpinning any Government decision on membership of the single currency is the national economic interest. The Government have said that the rate at which sterling would enter the single currency would need to be consistent with economic fundamentals in the UK and compatible with sustainable convergence between the UK and other euro area economies.

Mr. Waterson

To ask the Chancellor of the Exchequer what the responsibilities and role are of(a) regional chambers, (b) local authorities, (c) regional development agencies and (d) the EU Committee of the Regions in the national handover plan and preparing for the euro. [1402]

Mr. Boateng

A full list of all the organisations involved in changeover planning was set out in the second outline national changeover plan, which was published in March 2000. A copy is available in the Library of the House.

Mr. Laws

To ask the Chancellor of the Exchequer what assessment he has made of the constitutional implications of United Kingdom membership of the European single currency; and if he will make a statement. [1861]

Mr. Boateng

The Chancellor's October 1997 statement on EMU acknowledged that to share a common monetary policy with other states represents a major pooling of economic sovereignty. It also stated that if the economic benefits are clear and unambiguous, there is no constitutional bar to British membership of EMU.

Mr. Laws

To ask the Chancellor of the Exchequer if he will list the(a) dates and (b) membership of each meeting of the cross-policy committee on preparations for the European single currency over the last four years; and if he will make a statement. [1862]

Mr. Boateng

The cross-party advisory group on preparations for the euro is an informal group which acts as a channel for the exchange of information and develops cross-party awareness of the continuing preparations for the euro. Given the importance of preparations for the euro, every parliamentary party is invited to be represented on the group. The group has met six times since its first meeting on 19 June 2000, the last being on 8 March 2001