1999 MORI SURVEY ON ATTITUDES TOWARDS JOINING EMU
Section 1 - Views on membership of Economic and Monetary Union
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Q1.
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EMU started on 1 January 1999 with 11 EU countries participating. The UK government has made an "in principle" commitment to join when the economic case is clear and unambiguous ('joining the euro' means the time at which the sterling/euro exchange rate is permanently fixed. Notes and coins will follow about 2 to 3 years later). It has also indicated that it does not believe that conditions will be right before the next Parliament but has not specified a target entry date. Which one of the following statements best reflects your point of view?
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All respondents |
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(1,284) |
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% |
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a) |
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Britain should join the euro as soon as possible (ie. before 2002)* |
19 |
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b) |
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Britain should join the euro between 2002 and 2005* |
11 |
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c) |
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Britain should be in principle committed to joining the euro, but should not yet decide the timetable* |
22 |
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d) |
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Britain should wait and see how the euro develops before making any decisions, even of 'in principle' commitment |
31 |
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e) |
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Britain should decide now not to join either in this Parliament or the next (ie. not before 2007) |
5 |
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f) |
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Britain should never join the euro |
10 |
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Don`t know/not stated |
1 |
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* In each of these cases, the answer will be interpreted as indicating support subject to the negotiation of a reasonably competitive exchange rate
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Q2.
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The definition of an appropriate competitive exchange rate would clearly have to reflect conditions when and if the UK makes a definite commitment to join EMU. What, however, would you consider to be an appropriate exchange rate for £ sterling to enter the euro, if we were joining as soon as possible?
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All respondents |
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(1,284) |
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% |
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a) |
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Below 2.60DM/euro 1.33 |
13 |
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b) |
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2.60-2.70DM/euro 1.33-1.38 |
27 |
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c) |
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2.71-2.80DM/euro 1.39-1.43 |
19 |
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d) |
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2.81-2.90DM/euro 1.44-1.48 |
8 |
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e) |
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Above 2.90DM/euro 1.48 |
3 |
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Don`t know/not stated |
29 |
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Q3.
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If the UK stays out of EMU for a long period of time (e.g. more than six years after start date), do you think it will . . . .?
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All respondents |
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(1,284) |
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% |
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a) |
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Help the UK economy |
23 |
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Harm the UK economy, OR |
47 |
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Make no difference to the UK economy |
21 |
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Don`t know/not stated |
8 |
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b) |
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Help your individual business, |
16 |
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Harm your individual business, OR |
36 |
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Make no difference to your individual business |
42 |
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Don`t know/not stated |
6 |
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c) |
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Improve the competitiveness of UK exports |
22 |
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Worsen the competitiveness of UK exports, OR |
44 |
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Not affect competitiveness of UK exports |
22 |
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Don`t know/not stated |
12 |
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d) |
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Put UK businesses at a competitive advantage within the single market |
18 |
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Put UK businesses at a competitive disadvantage within the single market, OR |
54 |
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Not affect UK businesses within the single market |
19 |
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Don`t know/not stated |
9 |
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e) |
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Improve employment prospects in the UK |
25 |
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Worsen employment prospects in the UK, OR |
39 |
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Make no difference to employment prospects in the UK |
20 |
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Don`t know/not stated |
15 |
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Q4.
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If the UK does join the European Single Currency, do you think this will . . .
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All respondents |
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(1,284) |
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% |
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a) |
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Lead to higher interest rates in the UK, |
11 |
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Lead to lower interest rates in the UK, OR |
71 |
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Will not affect interest rates in the UK |
9 |
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Don`t know/not stated |
9 |
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b) |
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Lead to a higher corporate tax burden in the UK, |
57 |
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Lead to a lower corporate tax burden in the UK, OR |
4 |
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Will not affect the corporate tax burden in the UK |
25 |
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Don`t know/not stated |
14 |
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c) |
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Lead to greater economic stability in the UK, |
45 |
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Lead to less economic stability in the UK, OR |
34 |
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Will not affect economic stability in the UK |
11 |
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Don`t know/not stated |
9 |
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d) |
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Lead to higher long term growth rates in the UK, |
40 |
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Lead to lower long term growth rates in the UK, OR |
33 |
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Will not affect long term growth rates in the UK |
12 |
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Don`t know/not stated |
15 |
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Q5.
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How would a UK decision NOT to join EMU in the long term (i.e. ten years) be likely to affect your company's investment in the UK?
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All respondents |
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(1,284) |
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% |
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My company's investment in the UK would probably increase |
12 |
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My company's investment in the UK would probably decrease |
19 |
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My company's investment in the UK would probably stay the same |
62 |
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Don`t know/not stated |
7 |
Click here to download MORI`s full interpretation of these survey results.
 MORI Methodology
Consultation Process
Results: Section 2 - Surveyed Company Background
CBI Policy Statement
Press Release
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