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12/02/2009
Euro Adoption 'Not An Issue', Says Darling
Alistair Darling has insisted the UK government's stance on adopting the Euro has not changed, as the Stirling continues to lose its value on the world markets.
The Chancellor of the Exchequer said his party's fundamental position has not wavered since 2003, and adamantly stated: "It's simply not an issue to be raised."
Mr Darling was speaking in an interview published in today's Italy's Il Sole 24 Ore.
Earlier this month, EU Economic and Monetary Policy Affairs Commissioner Joaquin suggested there was a high chance that Britain will join the euro in the future.
Mr Darling has now called on Brazil, China, India, and Russia to join the Financial Stability Forum.
The Chancellor has insisted he will seek to avoid protectionism in the domestic economy and push for a coordinated effort among nations to resolve the global economic crisis.
He also called for a restoration of confidence in the British banking system.
"And I also refer to the role and function of regulators," said Mr Darling.
The Treasury chief also said he hopes other countries will recognise the urgency of a review into international institutions.
"The International Monetary Fund must be able to take preventive action," he added.
The government has laid out a series of steps the UK economy must meet before the country would consider joining the single currency.
The five economic tests were outlined by Gordon Brown during his time as Chancellor.
They state the UK economy must first be harmonised with the EU, meaning inflation and interest rates would need to match; there would need to be sufficient flexibility during times of a recession, as the UK would have no control over its domestic monetary policy, and fiscal controls would be limited.
Also investment opportunities would have to be advantageous for UK firms; the effect on the domestic financial services industry would have to be analysed; as would the effects on employment and growth potential.
(PR/JM)
The Chancellor of the Exchequer said his party's fundamental position has not wavered since 2003, and adamantly stated: "It's simply not an issue to be raised."
Mr Darling was speaking in an interview published in today's Italy's Il Sole 24 Ore.
Earlier this month, EU Economic and Monetary Policy Affairs Commissioner Joaquin suggested there was a high chance that Britain will join the euro in the future.
Mr Darling has now called on Brazil, China, India, and Russia to join the Financial Stability Forum.
The Chancellor has insisted he will seek to avoid protectionism in the domestic economy and push for a coordinated effort among nations to resolve the global economic crisis.
He also called for a restoration of confidence in the British banking system.
"And I also refer to the role and function of regulators," said Mr Darling.
The Treasury chief also said he hopes other countries will recognise the urgency of a review into international institutions.
"The International Monetary Fund must be able to take preventive action," he added.
The government has laid out a series of steps the UK economy must meet before the country would consider joining the single currency.
The five economic tests were outlined by Gordon Brown during his time as Chancellor.
They state the UK economy must first be harmonised with the EU, meaning inflation and interest rates would need to match; there would need to be sufficient flexibility during times of a recession, as the UK would have no control over its domestic monetary policy, and fiscal controls would be limited.
Also investment opportunities would have to be advantageous for UK firms; the effect on the domestic financial services industry would have to be analysed; as would the effects on employment and growth potential.
(PR/JM)
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19 January 2009
Clarke To 'Eyeball' Mandelson In Tory Cabinet Role
Veteran Tory MP Kenneth Clarke has stepped back into front line politics, in a Shadow Cabinet reshuffle that will see him come head-to-head with Business Secretary Peter Mandelson. The former Conservative Chancellor said he was delighted to return to his party's front bench, in a move aimed at increasing the Tory's economic gravitas.
Clarke To 'Eyeball' Mandelson In Tory Cabinet Role
Veteran Tory MP Kenneth Clarke has stepped back into front line politics, in a Shadow Cabinet reshuffle that will see him come head-to-head with Business Secretary Peter Mandelson. The former Conservative Chancellor said he was delighted to return to his party's front bench, in a move aimed at increasing the Tory's economic gravitas.
15 May 2003
Transport system improving says report
The Department for Transport's annual report, published today, sets out progress made over the past year to improve the country's transport system. The Department for Transport was set up in May 2002, to provide a sharper focus on transport issues.
Transport system improving says report
The Department for Transport's annual report, published today, sets out progress made over the past year to improve the country's transport system. The Department for Transport was set up in May 2002, to provide a sharper focus on transport issues.
05 May 2009
New Single Planning Policy For Economic Growth
A new planning policy setting out a comprehensive approach for planning for sustainable economic growth in all parts of the country has been published for consultation by Housing and Planning Minister Margaret Beckett today.
New Single Planning Policy For Economic Growth
A new planning policy setting out a comprehensive approach for planning for sustainable economic growth in all parts of the country has been published for consultation by Housing and Planning Minister Margaret Beckett today.
17 November 2008
'Wellbeing Power': Forgotten Tool In Tough Economic Times
Councils have not used a legal power that could help their area ride out tough economic times, the Government warned today. Local Government Minister John Healey, in a letter to council chiefs, urged them to consider using this "wellbeing power" to support their communities during the current economic climate.
'Wellbeing Power': Forgotten Tool In Tough Economic Times
Councils have not used a legal power that could help their area ride out tough economic times, the Government warned today. Local Government Minister John Healey, in a letter to council chiefs, urged them to consider using this "wellbeing power" to support their communities during the current economic climate.
25 April 2005
Labour attacks Conservative economic policy
Labour have emphasised their focus on a strong economy today, as the party continued to criticise the Conservatives economic policy.
Labour attacks Conservative economic policy
Labour have emphasised their focus on a strong economy today, as the party continued to criticise the Conservatives economic policy.
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
