» Tuesday, July 14, 2009

Single Currency

Put that the Business Secretary seemed to have ruled out membership of the single currency, the Prime Minister s Spokesman (PMS) said that the Government s position on the single currency remained the same; we had five economic tests and at every Budget we assessed whether or not there had been sufficient progress on the reforms associated with the 2003 statement to decide whether or not to go ahead with a further five test assessment. In the last Budget we decided that there was no such progress made and we decided not to join the single currency.

Put that we could join the single currency in years to come, the PMS said that we reassessed how much progress we were making against the five tests on an annual basis in the Budget.

Put that the Business Secretary also said that there was ten years of austerity to come, the PMS said that he would need to see the full context of what Lord Mandelson said before commenting further.

original source.

Briefing took place at 16:45 | Search for related news

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