Half of UK businesses want the government to wait before deciding to join the single currency, a new survey has found.

The British Chambers of Commerce (BCC) said that 49% of firms do not want an immediate entry into the euro.

The organisation's survey also found that 35% would support joining the euro if tests were met. However, 13% did not want to be part of the single currency under any circumstances.

Smaller businesses were less likely to be in favour of the euro.

BCC president Isabella Moore said: "A positive outcome to the five tests will not be decisive in convincing the business community, particularly smaller businesses, that the time is right for Britain to join the euro."

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