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19 May 1998
GOVERNMENT ANNOUNCES STEPS TO PREPARE FOR 1999
"The Government is committed to helping business adapt to meet the opportunities and challenges that the single currency will bring" announced Economic Secretary Helen Liddell, speaking at the European Parliament, as she published the latest Government advice to business.
Outlining the Government's preparations for the single currency to the Economic and Monetary Affairs Committee of the European Parliament, Helen Liddell said:
"The impact of the launch of the single currency on the private and public sector in the UK will be profound, even though the UK is not joining on 1 January 1999.
"Today we have published a booklet - EMU: Steps for 1999 - which sets out what the Government is doing to prepare. It is a response to the key recommendations that arose form our consultations with business and the public sector.
"The Government is providing information about the euro to help business prepare. We are providing facilities for businesses using the euro. We are monitoring the use of the euro so that we have the flexibility to react to a changing business environment. And we have signalled the Government's own commitment to preparations by nominating a Minister in each government department with responsibility for euro preparations.
"This provides a springboard for the period of intense preparation that lies ahead. It provides the groundwork for the Chancellor's Standing Committee to build upon when it meets to consider future steps on Wednesday."
NOTES FOR EDITORS
1. The booklet " EMU: Steps for 1999" will be available from:
- the Government's euro telephone information line on: 08456 01 01 99
- the Government's euro website at the address below
2 The Standing Committee on EMU is scheduled to meet on Wednesday 20 May. The Standing Committee is chaired by the Chancellor of the Exchequer . Membership includes:
| The President of the Board of Trade | Margaret Beckett |
| Governor of the Bank of England | Eddie George |
| Secretary of State for Scotland | Donald Dewar |
| Secretary of State for Wales | Ron Davies |
| Secretary of State for Northern Ireland | Mo Mowlam |
| Economic Secretary | Helen Liddell |
| Minister for Trade and Competitiveness in Europe | Lord Simon |
| Chairman of the Financial Services Authority | Howard Davies |
| President of the CBI | Sir Colin Marshall |
| President of the British Chambers of Commerce | David Richardson |
| President of the British Bankers' Association | Andrew Buxton |
| General Secretary of the Trades Union Congress | John Monks |
| Head of the Home Civil Service | Sir Richard Wilson |