§ Mr. MacleanTo ask the Chancellor of the Exchequer how long it takes the Bank of England on average to set up and print a new bank note after the initial design is completed. [76194]
494WDepartment is responsible and which carry a fee or salary, indicating for each type of appointment the fee or salary band which applies. [80745]
§ Ms Hewitt[holding answer 15 April 1999]Much of this information is already available in Public Bodies 1998, copies of which are available in the Library of the House.
The majority of public appointments are unpaid as most of those who accept a public appointment do so on a voluntary basis. The details of those appointments to public (and other) bodies that attract a fee or salary, which Treasury Ministers are responsible for, are as follows:
§ Ms Hewitt[holding answer 12 March 1999]The set-up time from approval of note design to the issue of the note is dependent on the specification, the complexity and the required launch volumes. The duration of the origination and plate-making process, and the set-up and proof printing for the Bank of England and other Central Banks in general, is between four and five months. However, if the banknote contains features that require additional equipment, then the lead time of that equipment must be included. Specialist equipment lead times can be up to one year.
The actual printing can take up to eight months dependent on the number of notes required.