Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Confederation polls contractors on euro


BRITAIN'S contractors will have their own referendum on whether the pound should be dropped in favour of the euro.

The Construction Confederation will ask its members if they want Britain to adopt the European single currency.

The confederation decided to carry out the poll, due later this year, after leaders realised they were unable to come to a consensus on the subject.

European affairs director John Bromley said: 'The problem is that although we are trying to get a discussion on the business issues the whole subject is very emotional.'

But he said the issue was crucial because entry into the euro would have major business implications for contractors.

Mr Bromley said: 'Even disregarding the emotional issue of losing the pound, adopting the euro means losing control over interest rates. And obviously interest rates have a big impact on the construction industry.'

Information setting out the pros and cons of joining the euro will be sent out to confederation members before the vote.