Euro

Lord Dykes
asked Her Majesty's Government:

Whether they have any plans to adopt the European single currency.[HL8129]

Lord McKenzie of Luton
The Government's policy on membership of the single currency remains as set out by the Chancellor in his Statement to the House of Commons in October 1997, and again in the Chancellor's 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.