HC Deb 11 November 1997 vol 300 c506W
Mr. Denzil Davies

To ask the Chancellor of the Exchequer, pursuant to his oral statement of 27 October,Official Report, column 584, what are the main criteria against which Her Majesty's Government will judge whether a single currency is successful enough for the United Kingdom to seek to join. [14318]

Mrs. Liddell

My right hon. Friend the Chancellor has set out the five economic tests that define whether there is a clear and unambiguous economic case for Britain to join the single currency.

These tests are: first, whether there can be sustainable convergence between Britain and the economies of a single currency; secondly, whether there is sufficient flexibility to cope with economic change; thirdly, the effect on investment; fourthly, the impact on our financial services, and finally whether it is good for employment.