§ Mr. Lubbockasked the Chancellor of the Exchequer why the cost of minting the new coins for the proposed decimal currency system has increased from £22.5 million as estimated in the Halsbury Report to £30.75 million, the figure given in the financial memorandum to the Decimal Currency Bill; and if he will estimate the savings out of this total that would result if the sixpenny piece and halt-crown were retained as five and twenty-five new penny pieces, respectively, in a system based on a major unit of ten shillings.
§ Mr. CallaghanThe increase is due to a variety of factors, notably revised estimates of the cost of labour and materials and of coin requirements. The340W estimate assumes the replacement of all coins in circulation. No firm estimate has been made of the minting costs of any 10s. system, but the difference would not be significant.