Sections:
Freedom of Information Act 2000, request no. F2006/192
Date of release 05 September 2006
Preparations for joining the European single currency
What was the date of DFID’s “most recent High-Level plan for joining the Euro” and for a copy.
The most recent “DFID Euro Preparations Project Initiation Document” is dated 05 May 2005. A copy of this document is enclosed.
An outline of any and all other work being carried out within the department to prepare for Euro conversion, with details of the date the work was carried out, and if applicable dates of expected publication.
DFID follows the Government’s “prepare and decide” policy on the Euro. The Department has therefore made preparations that are designed to ensure that, following a referendum on the issue, the Department could achieve transition to the single currency within timescales set out by Treasury, at the least possible cost and with the least risk to the disruption of business.
We do not hold an ‘outline’ of the work as requested. The tasks are included within normal business in units across DFID and are not separately identified.
An estimate of all costs which have been and are being incurred in any ‘High Level’ preparations for joining the Euro.
DFID does not hold the requested information. Costs of preparation for potentially joining the Euro have been absorbed as part of our wider financial systems upgrade. There is no current allocation of funding to a separate Euro preparations programme. There are no staff employed to carry out this work on a full-time basis: members of staff give time to the workstream as and when required, in addition to carrying out their substantive roles within the finance function. The costs arising from Euro preparation work are therefore marginal and the Department does not consider that the expense of estimating the cost of this input is justified by any benefit from that information.
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