HM Treasury

The Euro

Euro preparation

The Government has a “prepare and decide” policy towards euro entry and euro preparations. Under the policy of “prepare and decide” the objective of HM Treasury Euro Preparations has been to make sure that the UK maintains a genuine option of being able to make a smooth and effective euro changeover - if that is what the Government, Parliament and the British people, in a referendum, decide. This section provides information on the Government’s work to ensure that the UK could make a smooth and effective changeover to the euro.  

Euro Preparations - What you need to know (PDF)

This leaflet provides a summary of the third outline National Changeover Plan. It explains how the UK would make the change from sterling to euro in the event of a decision to join.

Outline National Changeover Plans

Outline National Changeover Plans provide a comprehensive statement of how the Government would manage a UK changeover. The third outline National Changeover Plan was published on 9 June 2003.

Managed Transition Plan

A working draft of the UK’s preferred phased approach or “Managed Transition” to any possible future UK changeover to the euro has been published to provide a basis for informal discussion and further development with stakeholders. For further details and a copy of the document click here.

Consumer Protection Framework

A draft Consumer Protection Framework, setting out proposals for protecting consumers in a possible future changeover to the euro is available.
For further details and a copy of the document click here.

Euro compatibility: a guide for managers; 2nd edition, January 2004 (PDF)

Reflecting government policy that euro compatibility should be incorporated into all new or upgraded systems in the public sector where this represents value for money, this guidance explains why consideration of euro compatibility should be a part of routine business planning, how it can be defined and ways in which euro compatibility can be delivered.

Reports on Euro preparations

Reports on euro preparations provide an update on the planning work that has been undertaken to ensure that the UK could make a smooth and cost effective changeover to the euro, and on the Government's work to help UK firms to remain competitive in the European marketplace.

Local authority preparations

This section provides guidance to local authorities on euro preparations.

Standing committee

The Chancellor’s Standing Committee on Euro Preparations oversees euro preparations across the UK economy. This section provides notes of meetings, and other relevant information.

Preparations committees in Scotland, Wales and Northern Ireland

On 9 June 2003, the Chancellor invited the Secretaries of State for Scotland, Wales and Northern Ireland to establish euro preparations committees. This section provides links to further information about the work of these committees. 

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