27/05/2003 : Unilever chairman Niall FitzGerald calls on Prime Minister Tony Blair to follow his instincts on the euro and recommend Britain's entry into the single currency.
Unilever chairman Niall FitzGerald calls on Prime Minister Tony Blair to follow his instincts on the euro and recommend Britain's entry into the single currency.
Speaking at a CBI dinner in Brussels this evening he will say:
"Last week, the Chancellor of the Exchequer told the CBI's Annual Dinner in London that membership of the euro can bring clear benefits to Britain in trade, investment and growth — benefits to British business, consumers and jobs. I agree with him.
And next week, together with his Cabinet colleagues, a collective decision — or so we are told — will be taken as to whether the economic tests have been met and the time is right to recommend Britain's entry into the single currency.
No one should envy Cabinet ministers the task ahead of them — both the volume of the material and the weight of the decision represent heavy burdens.
And the decision will not be an easy one. We all know that the economic conditions for Britain's entry are not perfect …but they never will be. That the risks inherent in joining have not all been removed …but they never will be. And that the guarantee of winning a referendum does not currently exist …but it never will.
Only one thing, I believe, is certain. If Britain once again fails to take the path so clearly laid out; if we fail to enter the next phase of the Europe's development at a crucial and formative stage, then we will all be the losers — trade will suffer; investment will suffer; and our influence will suffer.
A decision to delay further will satisfy no-one. The British people will be cynical. Our European partners will feel let down. And British business — I would suggest — will be unforgiving.
And so I would have one message for Prime Minister Tony Blair. You rightly turned a deaf ear to the siren voices who warned that action in Iraq would be reckless. Follow your instincts now on the euro. Give us the certainty to plan, the stability to grow and the competitive environment in which to shine.
The tests are as met now as they ever will be. Recommend entry. And I for one will be there to support you and to put the compelling arguments in favour of Britain's entry.
Of course, none of us knows for sure what will be said on 9 June. But I do hope — and I fully expect — that at the very least, the very least, the Government will provide a clear timetable and a specific action plan for achieving economic convergence prior to joining the single currency.
Anything less, I am afraid, will not convince this particular businessman for one, and I believe many others, that the UK Government is serious about taking Britain into the single currency within a respectable timeframe and we will shape our plans accordingly.
Leadership requires courage not certainty, vision not vacillation. Leaders must trust their instincts and not wait for the final decisive insight. I believe Prime Minister Blair will not be found wanting on leadership."
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