§ Mr. DrewTo ask the Chancellor of the Exchequer what recent discussions he has had with representatives in local government on the subject of preparing for entry into the euro. [73711]
§ Ruth KellyTreasury Ministers have regular discussions with representatives from all parts of Government and such discussions cover a wide range of issues.
§ Mr. DrewTo ask the Chancellor of the Exchequer what recent discussions he has had with ministerial colleagues on preparing for entry into the euro. [73710]
608W
§ Ruth KellyThe Chancellor of the Exchequer has regular discussions with representatives from all parts of Government and such discussions cover a wide range of issues.
§ Mr. DrewTo ask the Chancellor of the Exchequer what plans he has to recharge each department for the costs of possible entry into the euro. [73709]
§ Ruth KellyThere are no plans to recharge departments for the costs of a possible euro entry.
§ Mr. DrewTo ask the Chancellor of the Exchequer what his estimate is of the cost of preparing for entry into the euro for(a) central Government, (b) local government, (c) business and (d) the UK economy. [73712]
§ Ruth KellyIt is not possible to estimate the cost of an introduction of the euro.
The cost of a changeover would depend on the timing, the overall approach and individual management decisions.
Details of preparations in the public sector for a possible UK entry into EMU may be found in HM Treasury's Sixth Report on Euro Preparations published in July.
§ Mr. LawsTo ask the Chancellor of the Exchequer whether his Department has started the assessment of the five economic tests for membership of the euro; and if he will make a statement. [73976]
§ 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 undertake the assessment within two years as we promised—is underway.
§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer (1) if he will place in the Library a document in respect of all acts of Parliament placing powers and obligations on Her Majesty's Government and other parties in the United Kingdom whose functioning would be affected by United Kingdom accession to the European currency, indicating in each case the section of each act concerned and that of the respective legislative instrument of the European Union; [74117]
(2) if he will list each new obligation which would apply to the Government and others in the United Kingdom, on adoption of the Euro as a currency, stating in each case the treaty together with the party to which it would apply. [74118]
§ Ruth KellyIf Government, Parliament and the people—in a referendum—decide to join a successful single currency, the transfer of legal responsibility for monetary policy to the European Central Bank would entail changes to the domestic legislation of the United Kingdom governing the formulation and conduct of monetary policy, at least to the extent necessary to ensue compatibility with the EC Treaty and the Statute of the ESCB.
The provisions of the EC Treaty and the Statute of the ESCB which would then become applicable to the United Kingdom are referred to in paragraphs 3 to 9 of 609W Protocol (No 11) to the EC Treaty (on certain provisions relating to the United Kingdom of Great Britain and Northern Ireland). In addition, legislation adopted under Article 123.5 of the EC Treaty would make the provisions necessary to enable the United Kingdom to move to the final stage of economic and monetary union.