To ask Her Majesty's Government whether the remarks by the Lord President (Lord Mandelson) promoting the adoption of the euro by the United Kingdom represented Government policy; and, if so, whether it is their intention to hold a referendum before joining the eurozone. [HL4406]
The Government's policy on membership of the single currency is unchanged. It remains as set out by the then Chancellor in his Statement to the House of Commons in October 1997, and again in the Statement on the five tests assessment in June 2003. The determining factor underpinning any government decision on membership of the single currency is the national economic interest and whether the economic case for joining is clear and unambiguous.