§ Mr. ClappisonTo ask Mr Chancellor of the Exchequer what work is being undertaken by his Department in advance of a decision on whether to join the Eurozone; and if he will make a statement. [78883]
§ Ruth KellyThe Government has said that it will complete an assessment of the five economic tests within two years of the start of this Parliament. The assessment has not yet started, but the necessary preliminary analysis technical work that is necessary to allow us to undertake the assessment within two years as promised is underway.
As we set out in the "Paper for the Treasury Select Committee on the Treasury's approach to the preliminary and technical work", issued on 6 September, "A number of supporting studies will be published encompassing the preliminary and technical work … When the assessment is complete, the detailed supporting studies will be published alongside, all to be subject to intensive public scrutiny and debate." More detail on the supporting studies is given in the 6 September paper.
Table A: Gross Value Added: £ person North East North West (GOR) and Merseyside Yorkshire and the Humber East Midlands West Midlands East London 1989 6,614 7,199 7,042 7,621 7,242 9,012 10,135 1990 7,033 7,757 7,630 8,149 7,875 9,711 10,935 1991 7,433 8,096 8,002 8,464 8,108 9,913 11,422 1992 7,811 8,380 8,195 8,722 8,450 10,415 11,930