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Volume 405: debated on Monday 12 May 2003

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To ask the Chancellor of the Exchequer what recent estimate he has made of the likely cost (a) for public funds and (b) to the public sector of changeover from the pound to the euro. [112288]

Should the UK decide to join the euro, the cost to the public sector of conversion to the euro would depend on the detailed approach that the UK took to the changeover and the extent to which organisations are able to build in euro compatibility where IT systems are being upgraded or purchased for other reasons. The outline National Changeover Plans provide a planning framework. All stakeholders acknowledge that costs can be minimised through careful and early planning.