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Confederation polls contractors on euro

NEWS

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.