Dáil Éireann debate -
Wednesday, 21 Feb 2001

Vol. 531 No. 1

Written Answers. - Euro Changeover.

Rory O'Hanlon

Question:

85 Dr. O'Hanlon asked the Minister for Finance if he is satisfied with the progress to date on arrangements for the introduction of the euro; the further measures he proposes to take for a smooth transfer; and if he will make a statement on the matter. [5074/01]

Minister for Finance (Mr. McCreevy)

The changeover to the euro involves preparation of legislation, production of euro cash, preparations by the public sector and by businesses, consumer matters and the provision of widescale public information. Substantial progress has been made to date under each of these headings and further extensive preparations are in hand. Evidence of the scale of these preparations is the fact that the Estimate for my Department this year provides for £14.678 million towards the work of the Euro Changeover Board. The total expenditure of the board last year was £1.8 million.

Much legislation dealing with the euro has already been put in place at EU and national level. More recently, the Euro Changeover (Amounts) Bill, 2001, which I published on 5 February 2001, provides for the substitution, with effect from 1 January 2002, of convenient euro amounts for Irish pound amounts at specific references in listed Acts and Statutory Instruments. Together with the Finance Bill, 2001, and the Social Welfare Bill, 2001, and other forthcoming legislation, it will provide a framework of convenient euro amounts to apply from 1 January 2002 in the principal areas of law under which citizens regularly transact business with the State. In all cases of changes to convenient amounts in this legislation, the principle of favouring the citizen will be followed. Irish pound amounts in law that are not affected by this national legislation will be converted to euro on 1 January 2002 at the conversion rate under Council Regulation (EC) No. 974/98.

Production of euro banknotes and coins by the Central Bank is on target, while Departments confirm that progress on preparations by the public sector is satisfactory. These preparations will continue to be monitored by my Department. Consumer matters are for my colleague, the Minister of State at the Department of Enterprise, Trade and Employment, Deputy Tom Kitt, who has responsibility for consumer affairs, and for the Director of Consumer Affairs. The National Code of Practice on the Euro Changeover was re-launched by them last December, along with an action plan for consumer protection during the changeover.

The Euro Changeover Board of Ireland, ECBI, has carried out extensive public information activities since its establishment in 1998. These have included a leaflet to every household in 1998, 1999 and 2000, widespread circulation of posters and leaflets, provision of a local inquiry line – 1890 20 1050 – and website – www.euro.ie – and distribution of information packs to schools and of guidelines to every teacher. A national television, radio and press campaign commenced in early January. A train the trainers pack is being made widely available for general use. The needs of low awareness groups are being addressed through the board's consultative panel and many of the projects in the board's programme of part-funding for non-governmental organisations carrying out euro information activities relate to these groups.

The Forfás EMU Business Awareness Campaign has provided extensive information to help businesses to prepare themselves for the changeover. Earlier this month Forfás began fresh radio advertising aimed specifically at business. Measures on the lines of the above will be continued and intensified as the year progresses. In particular, the Forfás EMU Business Awareness Campaign is intensifying its campaign to stimulate increased preparation by businesses, while the ECBI will be intensifying the provision of advertising and information aimed at the public. Specific initiatives will include the launch shortly by the ECBI of a retail tool, in the form of a computer disk, to help retailers calculate their cash requirements for the first week of 2002, the launch before the end of March of a further round of funding under the ECBI's NGO programme and the provision by the ECBI of a booklet for all households in autumn 2001.