§ Lord Kilclooney
asked Her Majesty's Government:
Whether acceptance of the euro as the currency of the Republic of Ireland has had a positive or negative impact on the economy of Northern Ireland. [HL770]
§ Baroness Amos
Given the relatively short time since the introduction of the euro and the significant movements in the exchange rate over this period it is difficult to determine the impact of the Republic of Ireland's membership of the single currency on Northern Ireland.
The Center for Cross-Border Studies, in co-operation with InterTradeIreland, has commissioned a research project on the impact on Northern Ireland 112WA business of the Republic of Ireland's adoption of the euro. The terms of reference specifically address the impact on small and medium enterprises and the retail sector. The study will involve both quantitative and qualitative research and is due to be published in spring 2004. The findings from this study will give policy makers a better understanding of this issue.