§ 20. Mr. Hannanasked the Chancellor of the Exchequer if he is aware that eight different types of £5 banknotes, some of them very similar in size and colouring to £1 notes, are in use in Scotland, and are causing inconvenience and disputes between the public, shopkeepers and business houses; and if he will introduce legislation to remedy this.
§ Mr du CannI am not aware of any developments calling for legislation.
§ Mr. HannanIf the hon. Gentleman will make inquiries he will find that in essence the statement in my Question is correct. Is he not aware that there is between the shopkeeper and the public a growing lack of good faith and that disputations arise because of statements made about certain notes that are handed over being of a higher denomination when, in fact, they are of a smaller denomination? Will not he look into this matter again?
§ Mr. du CannIn principle, I am sure that there is very much to be said for having a single set of notes in circulation, but the rights of the Scottish banks to individual note issues are of long standing and we should think very carefully before taking those rights away.
§ Mr. HannanSince the hon. Gentleman agrees with the need to remedy this situation, what steps will he take to have the position put in order?
§ Mr. du CannI am sure that this is not a matter for legislation. I am advised that the Scottish banks are very well aware of the need for co-ordination. As I have said, their rights to issue notes is of long standing, and I am sure that Scottish sentiments in the matter should be paramount.