Euro delay gets backing from UK employer bodies

first_img Comments are closed. Related posts:No related photos. Chancellor Gordon Brown’s decision to delay joining the Euro has receivedsupport by heavyweight employer bodies. Last week, the Chancellor judged that the five economic tests on whether theUK should join the single European currency had not been passed. They include whether joining the Euro would adversely affect employment andgrowth, and business and workforce flexibility. Announcing his decision, Brown said the UK should only join the Euro ifthere was a “clear and unambiguous case” for doing so in the nationalinterest. CBI director general Digby Jones, said that he welcomed the rigour of thechancellor’s assessment, and agreed that further sustainable convergence isnecessary before ministers put the question of Euro entry to the country. “This is not a one-way street,” he said. “We in the UK aregood Europeans, and it is not insular arrogance to seek a Europe that isflexible in its labour markets, reformed in its pensions, financial services,agriculture and energy sectors, as well as transparent in its decisionmaking.” John Philpott, chief economist at the Chartered Institute of PersonnelDevelopment, does not believe joining the Euro would have a significantlong-term impact on UK employment. He defended Brown’s cautious stance, but said it was a ‘telling fact’ thatthe chancellor only made passing reference to the effect on jobs. Philpott believes that moves by the Government to increase the use of wagebargaining and regional pay setting would help prepare the UK’s employmentmarket for Euro entry. Previous Article Next Article Euro delay gets backing from UK employer bodiesOn 17 Jun 2003 in Personnel Todaylast_img read more