HM Treasury News Release
81/98                                              19 May 1998
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         GOVERNMENT ANNOUNCES STEPS TO PREPARE FOR 1999


"The Government is committed to helping business adapt to meet
the opportunities and challenges that the single currency will
bring" announced Economic Secretary Helen Liddell, speaking at
the European Parliament, as she published the latest Government
advice to business. 

Outlining  the Government's preparations for the single currency
to the Economic and Monetary Affairs Committee of the European
Parliament,  Helen Liddell said:

"The impact of the launch of the single currency on the private
and public sector in the UK will be profound, even though the UK
is not joining on 1 January 1999.

"Today we have published a booklet - EMU: Steps for 1999 - which
sets out what the Government is doing to prepare.  It is a 
response to the key recommendations that arose form our
consultations with business and the public sector. 

"The Government is providing information about the euro to help
business prepare. We are providing facilities for businesses
using the euro. We are monitoring the use of the euro so that we
have the flexibility to react to a changing business environment.
And we have signalled the Government's own commitment to
preparations by nominating a Minister in each government
department with responsibility for euro preparations.

"This  provides a springboard for the period of intense
preparation that lies ahead. It provides the groundwork for the
Chancellor's Standing Committee to build upon when it meets to
consider  future steps on Wednesday."



NOTES FOR EDITORS

1    The booklet " EMU: Steps for 1999" will be available from:

          the Government's euro telephone information line on:
          08456 01 01 99

           the Government's euro website: http://www.euro.gov.uk

 
2    The Standing Committee on EMU is scheduled to meet on
     Wednesday 20 May. The Standing Committee is chaired by the
     Chancellor of the Exchequer . Membership includes:

     

     The President of the Board of Trade            Margaret Beckett 
     Governor of the Bank of England                Eddie George   
     Secretary of State for Scotland                Donald Dewar
                                                       
     Secretary of State for Wales                   Ron Davies          
     Secretary of State for Northern Ireland        Mo Mowlam         .
     Economic Secretary                             Helen Liddell
     Minister for Trade and Competitiveness         Lord Simon
     in Europe                                                 
     Chairman of the Financial Services Authority   Howard Davies
     President of the CBI                           Sir Colin Marshall
     President of the British Chambers of Commerce  David Richardson
     President of the British Bankers' Association  Andrew Buxton
     General Secretary of the Trades Union Congress John Monks
     Head of the Home Civil Service                 Sir Richard Wilson