A BUSINESS group has endorsed this week's decision by Chancellor Gordon Brown to delay the UK's entry to the euro.

The reaction from Andrew Dickson, president of Bolton and Bury Chamber, comes after the Government's assessment of the five euro entry tests.

Mr Dickson said: "We welcome the basic conclusion that the UK is not yet ready to join the euro and that most of the five tests have not yet been met. This confirms the views of our members locally, which they expressed in a recent British Chambers survey on the Euro.

"The majority opinion of businesses locally and nationally is 'not no, but not now' and we are glad that the Government shares this analysis."

But he warned: "The Government must make it clear where it intends to go so that business knows where it stands.

"There is a risk that constantly revisiting the assessments will heighten uncertainties and create an unstable environment that would make it more difficult for British business to plan and invest. There must also be an honest debate on the issue of UK euro membership before a decision can be made."