The British Chancellor of the Exchequer, Mr Gordon Brown, yesterday insisted the British government's policy over the EU's single currency and the timetable for possible entry were totally unchanged.

Referring to the five tests he set in 1997 to judge whether swapping sterling for the euro was in the economic interest of Britain, Mr Brown told BBC television that "it's got to be economically right for the country" and would have to be preceded by a period of sustained convergence between the British and European economies.

"Nobody would want to join the euro unless we met the five tests," he said, adding that the assessment of those tests was likely to take place early in the next parliament.

Mr Brown's intervention comes a day after foreign secretary Robin Cook made the most pro-euro speech by a Labour minister in months. In Tokyo, Mr Cook praised the euro's early success, saying it was translating into "significant benefits" for its memberstates and vowed Britain would push to join if they continued.

Government sources said the foreign secretary's speech was cleared by Mr Brown.

The government has steered clear of the single currency ever since its defeat in European Parliament elections in June by opposition Conservatives fighting on a save-sterling ticket.

Mr Brown also denied he was saving up a war chest of public finances to splurge on tax cuts shortly before the next election, likely to be held in 2001.