HC Deb 10 March 1964 vol 691 c241
26. Mr. Turton

asked the Chancellor of the Exchequer whether he will reintroduce the groat.

Mr. Maudling

No, Sir.

Mr. Turton

Now that London Transport has raised the basic fare from 3d. to 4d. and rural transport is doing the same, would not my right hon. Friend consider the replacement of the 3d. bit by the 4d. piece, which was in circulation for more than 330 years and whose use would be a convenience to the traveller and an economy to the Royal Mint?

Mr. Maudling

This is an interesting suggestion which I have considered with the Mint. On the whole, it is a bad thing to have a proliferation of coins. Pennies and 3d. bits would still be used and the introduction of the groat would not get rid of the 3d. bit. I can console my right hon. Friend by saying that groats minted since 1817 are still legal tender.

Mr. Lipton

Is the right hon. Gentleman aware that his reply will be greeted with immense satisfaction by all those who are firmly convinced that if he replaced 3d. bits by groats, the cost of living would go up by at least 33⅓ per cent. and that we have had enough of the rising cost of living under the present Administration to last us for a long time to come?

Mr. Maudling

As always, I would not accept the premises of the hon. Gentleman's supplementary question, but I hope that all Treasury answers are received with great satisfaction.