The party said it was "based on traditional Conservative values", and they self-defined as "One Nation Conservatives". The main aim of the party was for the United Kingdom to join the euro, also known as "the single currency", for economic reasons. At the time the British pound was strong against the euro, which had dropped in value to be equal to the US dollar, and the then-Governor of the Bank of England Eddie George said that it would be "an act of faith" for Britain to join the Eurozone.