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Economic and Monetary Union

Volume 486: debated on Thursday 15 January 2009

To ask the Chancellor of the Exchequer when his Department's tests for potential entry to the euro were last used to make an assessment; and when the Government next plans to reassess performance against the tests. (248190)

The Government published the assessment of the five economic tests in June 2003. The Chancellor announced in Budget 2008 that

“the Government do not propose a euro assessment to be initiated at the time of this budget.”

The Treasury will again review the situation at Budget 2009 as required by the Chancellor’s June 2003 statement.