£20m euro spend planned



Mike Simons

The Government will spend £20m this year preparing its computer systems for joining the euro, according to Chancellor...



Mike Simons

The Government will spend £20m this year preparing its computer systems for joining the euro, according to Chancellor Gordon Brown.

Launching the Government's second national changeover plan, the chancellor said £10m would be spent by the Inland Revenue on updating its IT systems, with the Department of Social Security and Customs and Excise each spending £5m in advance of a possible decision to join the single European currency.

The plan revealed that central Government departments spent £6.3m in preparations after the publication of the first outline plan last year. Customs and Excise spent £1.6m, the DSS £1.6m, Inland Revenue £1.3m and the Bank of England £0.6m.

The document confirmed the original timetable of a period of up to three years to replace the pound with the euro following a "yes" vote in a referendum on the single currency.

The second outline national changeover plan is available.

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