FIDUCIARY NOTE ISSUE

HC Deb 03 December 1942 vol 385 c1300

54. Sir Stanley Reed

asked the Chancellor of the Exchequer when the next increase in the fiduciary note issue will be made?

The Chancellor of the Exchequer (Sir Kingsley Wood)

Acting under the power conferred by Section 8 of the Currency and Bank Notes Act, 1928, as subsequently amended, the Treasury have authorised an increase in the amount of the fiduciary note issue by £70,000,000 to £950,000,000 as from 1st December. The Treasury Minute will in due course be laid before Parliament.

Sir S. Reed

Have these increases in the fiduciary issue any bearing on the general problem of inflation?

Sir K. Wood

No, Sir. I do not think so.