§ Lord Dykesasked Her Majesty's Government:
Whether they will begin to take the necessary steps towards full United Kingdom membership of the European Monetary System. [HL558]
§ The Parliamentary Under-Secretary of State, Department for Culture, Media and Sport (Lord McIntosh of Haringey)The Chancellor's statement to the House of Commons on 9 June 2003 set out a reform programme of concrete and practical steps to address policy requirements identified by the June assessment of the five economic tests. As the Chancellor said in Budget 2004, "while the Government does not propose a euro assessment be 25WA initiated at the time of this Budget, the Treasury will again review progress at Budget time next year".