To ask the President of the Board of Trade what discussions she has had with relevant representative bodies on the reporting requirements for companies during the transition phase of economic and monetary union. [17141]

The question of the currency in which company accounts may be drawn up, whether or not the United Kingdom were to participate in European Monetary Union, has been discussed during the course of meetings between my officials and a range of representative bodies. The question was also touched upon by my right hon. Friend, the Chancellor of the Exchequer, in his speech to the CBI on 10 November 1997.