£2 Treasury Notes (Hansard, 23 April 1953)

§ 3. Mr. Remnant
asked the Chancellor of the Exchequer whether he will consider issuing £2 Treasury notes.

§ The Financial Secretary to the Treasury (Mr. John Boyd-Carpenter)
No, Sir.

§ Mr. Remnant
Is my hon. Friend aware that I am referring to notes similar to the £1 and 10s. notes now in issue? As notes of the denomination suggested are not out of keeping with the purchasing power of the £ before the war, would he undertake to consult industry, the banks, the unions and retail organisations to see whether they would welcome notes of this denomination?

§ Mr. Boyd-Carpenter
In any event, legislation would be required to authorise notes of this denomination. There would certainly be technical problems in connection with the printing and, so far as I am aware, there is little public demand.

§ Mr. Peart
In view of the decrease in the value of money since the party opposite came to office would the Financial Secretary reconsider the matter?

§ Mr. Boyd-Carpenter
In view of the stability of prices in the last nine months, urgency in this matter, which may have existed under the previous Administration, no longer continues.

§ Lieut.-Colonel Lipton
Would it not have provided an additional incentive in this year's Budget if the Government would let us have two pound notes for the price of one?