THE Single European Currency is dividing chartered accountants in the Thames Valley according to a major new survey.

And despite the retention of sterling, Thames Valley businesses have a great deal of exposure to the Euro.

About half of more than 5,000 chartered accountants surveyed nationally by the Institute of Chartered Accountants believe that the UK should adopt the Euro at some stage with 49 per cent of those in the Thames Valley voting in favour of the single currency.

A further 30 per cent recommend a 'wait and see' approach with only 21 per cent ruling out joining completely within the life of the next parliament.

Accountants in the Thames Valley believe that the UK's current position outside the Europe Zone is best for the moment with only 36 per cent believing it is harmful for the economy.

Brian Bush, president of the Thames Valley Society of Chartered Accountants, said: "The huge response to the survey shows that chartered accountants see the single currency as a major business issue. Our members have taken a pragmatic approach to this highly charged debate, with most wanting to keep open the option of the Euro membership. The view on whether the UK should adopt the Euro ranges from enthusiastic to 'wait and see' with relatively few opposed in principle."

Linda Findlay of ICAEW Thames Valley said she is not surprised at the revelations.

"It is obviously an issue that accountants must consider especially since 90 per cent of accountants say that at least a few of their clients or customers are affected in some way by the single currency, with six per cent saying they all are," she said.

"It is not very surprising and is pretty consistent with other similar surveys carried out over the past few years by organisations such as the Confederation of British Industry."