BusinessCompany NewsHewitt backs Euro to boost business

Hewitt backs Euro to boost business

Trade and industry secretary Patricia Hewitt has thrown her weight behind the potential adoption of the single European currency in the UK, saying that joining the euro would offer huge advantages for British business.

Link: UK public divided over euro entry

During a visit to Thailand, Hewitt acknowledged that there were economic concerns currently surrounding the eurozone with growth very slow but that the decision to join must be made on a long-term basis and not on the short-term situation.

Exchange rate stability and price transparency were given as the main plus points by Hewitt as to why Britain should join the euro.

She warned that the country’s current absence from the single currency was becoming an even more important factor when business is deciding whether to invest in the UK or not.

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