§ Dr. NaysmithTo ask the Chancellor of the Exchequer what assessment he has made of the impact on savings incomes of pensioners of the United Kingdom joining the euro. [123858]
§ Dawn PrimaroloAs stated in para 5.142 of "UK Membership of the Single Currency: An Assessment of the Five Economic Tests",
… this assessment finds that the achievement of sustainable and durable convergence between the UK and euro area has not been demonstrated. Essentially this means that the UK economy would be more volatile in EMU … Pensioners would face greater uncertainty over the real value of their pensions.