§ 26. Mr. Lubbockasked the Chancellor of the Exchequer if he will bring up to date the table in paragraph 650, page 148, of the Report of the Committee of Inquiry on Decimal Currency, Command Paper No. 2145, giving the present estimated breakdown of conversion costs assuming that the date of the changeover will be 1971; if he will give the same information in terms of the detailed breakdowns given in Appendix 17 of that Report; and what estimate he has made of the saving which would result from the adoption of a five shilling/cent system, retaining the present shape, weight and composition of all coins from the threepenny bit upwards, as compared with the proposed pound/cent system.
§ The Financial Secretary to the Treasury (Mr. Niall MacDermot)The answer to 204 the first and second parts of the Question is "No, Sir", and to the third part is "None, Sir".
§ Mr. LubbockWould the Financial Secretary say why he refuses to give this information, since, as he knows, the Halsbury Committee's figures assumed a change-over date of 1970, whereas the Government's policy is now for a changeover date of 1971 and by that date more coin-operated machines will have been installed and, therefore, the cost will alter? What consultations did the hon. and learned Gentleman have with the various interested parties—the G.P.O., the Electricity and Gas Councils, and consumer representatives—about the choice of the £ as a major unit as compared with 10s. or 5s.?
§ Mr. SpeakerThat question was too long.
§ Mr. MacDermotThe cost of bringing these figures up to date would be very considerable and no very useful purpose would be served by doing this until my right hon. Friend has considered further the precise details of the coinage to be adopted and until methods of machine conversion have been fully evaluated.