THE chairman of the Ulster Society of Chartered Accountants in Ireland, Mr Drew Wilkinson, has criticised the British government for its "wait and see" policy towards European Monetary Union.

Speaking at the society's annual dinner, which was attended by over 400 member accountants and business leaders, Mr Wilkinson said the business community was "crying out for guidance" on how to adapt to a single currency.

"It has been a sad fact that the run up to the general election has meant that all the political parties have been preoccupied with point scoring,, rather than providing the UK business community with leadership and official information on the most vital event to affect business since the advent of the single market itself," he said.

Mr Wilkinson highlighted the particular difficulties faced by the Northern Ireland business community. "As the only part of the UK with a land border and addressing a significant market in another sovereign jurisdiction, what happens if the UK decides not to join when it is obvious that Ireland will?"

He said that the British government's approach seemed to be that it would cross that bridge when it came to it.

"As the leading body of professional business advisers, north and south," Mr Wilkinson said, "let me sound this early warning on behalf of my members. The British and Irish governments must make the development of guidelines for their respective business constituencies a pressing priority."