HM Treasury News Release
131/97                                            30 October 1997
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               GET READY FOR THE SINGLE CURRENCY
                                
Now is the time for business to start preparing for a single
currency, said Chief Secretary, Alistair Darling this evening.

Speaking to Scottish businessmen in Edinburgh, Mr Darling
emphasised the Government's commitment to working with
business:

"We are the first British Government to declare for the
principle of monetary union and now is the time for practical
preparation."

In the week in which Chancellor Gordon Brown announced the
appointment of  Lord Simon as the Treasury Minister
responsible for business preparation for monetary union, Mr
Darling urged business to  work with Government so as to give
Britain a genuine choice about joining a single currency in
the future.

"We will be working with business so that we are prepared for
monetary union should we decide to join in the next
Parliament.  We have started that work now.  And you need to
play your part."

Concluding, Mr Darling said,

"We are determined that the country should now begin to
prepare so that, should we meet the economic tests, we can be
in a position to decide whether to join a successful single
currency early in the next Parliament.  That is why Government
and business must prepare intensively during the next five
years".



Notes to Editors

Mr Darling was speaking at the Scottish Financial Enterprise's
eleventh Annual Autumn Dinner in Edinburgh. Copies of the
speech are available from the Treasury press office (tel: 0171
270 5243).