CBI warns firms to act fast on millennium threat
Monday 29 December 1997
Adair Turner, director-general of the Confederation of British Industry, said awareness of the date change problem had increased dramatically, but warned there was a "dangerous reluctance" among firms to convert that concern into action to solve the problem.
"While there are 732 days still to go to the Millennium, the final year must be used for preparation and testing. Firms need to use next year to ensure they are compliant," he said.
"The Millennium date change affects every company in the country and while many appear now to be aware of it they seem reluctant to take action. This must change - if firms want not only to retain their business partnerships but to stay in business, they must act and act fast."
The root of the problem is that many computer systems which record the year with two digits may be confused at midnight on 31 December 1999 when "99" is replaced by "00". The systems will fail or data errors will appear unless they have been reprogrammed to avoid computers mistakenly registering the year 2000 as 1900 instead - a problem which could result in meltdown.
The "Millennium timebomb" could affect almost every aspect of daily life, including using credit cards, the payment of wages and salaries and the provision of health service in hospitals.
It is estimated the cost of dealing with the problem could be pounds 30bn and a survey by PA Consulting found that almost half of a sample of businesses did not have a formal plan of action.
The Government has earmarked almost pounds 400m to defuse the problem within Whitehall in the face of criticism ministers were not doing enough to prevent the problem affecting the Civil Service.
- 1 Alan Rickman admits editing 'terrible' script with friends in Pizza Hut behind backs of writers on Robin Hood: Prince of Thieves
- 2 18th century sex toy found in 'toilet of sword fighting school' in Poland
- 3 US? China? India? The 10 biggest economies in 2030 will be...
- 4 'I wish my teacher knew...': Young students share their 'heartbreaking' worries in notes
- 5 Rebecca Francis accuses Ricky Gervais of using 'influence' to target female hunters after receiving barrage of death threats
The only black face in the Ukip manifesto is on the page about overseas aid
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
iJobs Money & Business
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£50000 - £667000 per annum + excellent benefits : Ashdown Group: IT Manager / ...
£13000 - £20000 per annum: Recruitment Genius: Scotland's leading life insuran...
£40000 - £45000 per annum + benefits : Ashdown Group: Training Programme Manag...