Brown shifts on key tests for joining the euro
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Your support makes all the difference.Gordon Brown, the Chancellor, left the door open yesterday to another assessment of his key tests for joining the euro next year even if the Treasury decides in June that they are not yet met.
The Government is committed to announcing by July whether the five tests for membership of the single currency have been met.
In an important shift of emphasis, Mr Brown repeatedly refused to state that a "no" in June would put the issue off the agenda until after the next election, which must be held by mid-2006. This leaves open the possibility of a second assessment next year that would still allow a referendum to be completed well before polling day.
Mr Brown told MPs on the Treasury Select Committee: "If the answer is yes we would recommend joining and we would go to Parliament and to the country.
"If the answer was no I would announce what the next procedure was ... We will explain the next step at that time."
As The Independent revealed earlier this month, Tony Blair has been putting pressure on the Chancellor not to rule out a referendum for the whole of this Parliament if the tests come out negative.
There is growing speculation in Whitehall that the Treasury will say the UK is moving in the right direction but that the tests have not been fully met.
Norman Lamb, a Liberal Democrat MP on the committee, said: "The Chancellor indicated the possibility of a referendum would still be hanging over the Government in 2004, regardless of how the Treasury judges the five tests in June."
Mr Brown got embroiled in a dispute with the Tory MP David Ruffley, who said that, as First Lord of the Treasury, the Prime Minister could overrule him whatever the outcome of the tests.
The Chancellor conceded that was the "constitutional position" but added: "The Government has decided that the economic assessment is prevailing and will be the basis for taking the decision."
The Chancellor hinted he was moving more in favour of the idea, knocking down anti-euro arguments and announcing the appointment of known supporters of the euro to key positions in the Bank of England.
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