Business, Innovation and Skills – in the House of Commons at 10:30 am on 4 March 2010.
Peter Bone
Conservative, Wellingborough
10:30,
4 March 2010
What recent representations he has received from businesses on UK membership of the euro.
Stephen Timms
Parliamentary Under-Secretary (Department for Business, Innovation and Skills) (Digital Britain) (also HM Treasury), Financial Secretary (HM Treasury) (also in the Department for Business, Innovation and Skills)
The Department has received no such representations recently.
Peter Bone
Conservative, Wellingborough
I am amazed at that response from the Minister. Is it not a fact that the floating of the pound and the depreciation of sterling have been enormously useful to small businesses and manufacturers in this country, making their goods cheaper abroad and making imports more expensive? Is it not great news that we still have the pound, and will the Government now give up their policy of taking us into the euro?
Stephen Timms
Parliamentary Under-Secretary (Department for Business, Innovation and Skills) (Digital Britain) (also HM Treasury), Financial Secretary (HM Treasury) (also in the Department for Business, Innovation and Skills)
The Government's policy remains as it was when it was set out by the previous Chancellor in a statement to the House in October 1997, and when the last assessment against the five tests was made in June 2003, when we said that
"we cannot at this point in time conclude that there is sustainable and durable convergence or sufficient flexibility to cope with any potential difficulties within the euro area."
The whole House will see exactly what we meant.
John Bercow
Chair, Members Estimate Committee, Chair, Speaker's Committee for the Independent Parliamentary Standards Authority, Speaker of the House of Commons, Chair, Speaker's Committee on the Electoral Commission, Speaker of the House of Commons, Chair, Members Estimate Committee, Chair, Speaker's Committee for the Independent Parliamentary Standards Authority, Chair, Speaker's Committee on the Electoral Commission
Order. Just as I called Mr. Bone to ask Question 19, Mr. Sheerman came into the Chamber. I want to err on the side of generosity; therefore I call the hon. Gentleman.
Ministers make up the Government and almost all are members of the House of Lords or the House of Commons. There are three main types of Minister. Departmental Ministers are in charge of Government Departments. The Government is divided into different Departments which have responsibilities for different areas. For example the Treasury is in charge of Government spending. Departmental Ministers in the Cabinet are generally called 'Secretary of State' but some have special titles such as Chancellor of the Exchequer. Ministers of State and Junior Ministers assist the ministers in charge of the department. They normally have responsibility for a particular area within the department and are sometimes given a title that reflects this - for example Minister of Transport.
The Chancellor - also known as "Chancellor of the Exchequer" is responsible as a Minister for the treasury, and for the country's economy. For Example, the Chancellor set taxes and tax rates. The Chancellor is the only MP allowed to drink Alcohol in the House of Commons; s/he is permitted an alcoholic drink while delivering the budget.
