Single Currency

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 20th July 2000.

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Photo of Gordon Brown Gordon Brown The Chancellor of the Exchequer 12:00 am, 20th July 2000

It is the importance that we attach to this issue that has led us to say two things. The first is that the decision must be made in the national economic interest, and that is why five economic tests are to be applied. We will consider the matter early in the next Parliament. Secondly, we have decided that there would be a referendum if a recommendation was made and, therefore, any recommendation would come before the Cabinet, the House of Commons and would then go before the country. That is the right way of approaching this issue. It is quite ridiculous to say that one is against the principle of a single currency for one Parliament only and to refuse to be able to put the arguments for ever, but that is what the Conservative party wants to do.