British firms see benefits of joining euro

Britain's biggest companies believe they would benefit from joining the euro - though not at the bottom line, according to a …

Britain's biggest companies believe they would benefit from joining the euro - though not at the bottom line, according to a Reuterssurvey.

The study, carried out for Tempest Consultants, found that 63 per cent of the 350 top companies in Britain believed joining the euro would be beneficial, though more than 80 per cent did not think it would make any difference to their sales or profits.

Nearly 90 per cent said they expected their sales would remain the same, and just 13 per cent believed the euro would improve their profitability.

The study comes just a couple of weeks after a BBC survey found the majority of Britons were against joining the euro. That survey showed seven out of 10 voters want to keep the pound.

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Britain's Labour government is committed in principle to joining Europe's single currency, but only if a series of economic tests - ranging from the impact on jobs to London's position as Europe's financial centre - are met, and voters support the switch in a referendum.