§ 3.5 p.m.
§ LORD RAGLANMy Lords, I beg leave to ask the Question which stands in my name on the Order Paper.
§ [The Question was as follows:
§ To ask Her Majesty's Government whether they will postpone decimalising the coinage until such time as there is a common European currency.]
§ LORD SHEPHERDNo, my Lords. There is no firm proposal at the moment for a common European currency, and in the opinion of Her Majesty's Government it would be wrong to defer the benefits of decimalisation against the possibility that such a currency may come into being.
§ LORD RAGLANMy Lords, may I ask my noble friend whether the Government should not reconsider this question very carefully because, the way things are going, there might well be a common European currency soon? Do they not think, therefore, that if they go ahead with their present decimalisation of coinage there will be a risk of imposing on the British public two difficult and costly changes within the next twenty years or so?
§ LORD SHEPHERDMy Lords, I am advised that a European common currency is a very long way away. The discussions are only in their very early stages, and Her Majesty's Government do not think it right to delay the implementation of decimalisation, which is a matter, as the noble Lord is aware, we have been discussing for some 150 years.
§ LORD SOMERSMy Lords, the noble Lord referred to the "benefits of decimalisation". Would he describe what they are, and whether in his opinion they outweigh the disadvantages?
§ LORD SHEPHERDMy Lords, this is Question Time, and I should not wish to delay the House. If the noble Lord reads the Halsbury Report, I am sure he will find the necessary information.
VISCOUNT ST. DAVIDSMy Lords, would my noble friend tell me when it is likely that there will be a common currency in the British Isles?
§ LORD SHEPHERDYes, my Lords. Decimalisation will come into effect in 1970.