HC Deb 31 January 1967 vol 740 cc235-7
23. Mr. Channon

asked the Chancellor of the Exchequer how many protests he has received in the last month against the use of the pound unit for decimal currency.

Mr. Callaghan

Thirty-three.

Mr. Channon

Would not the Chancellor agree that whether or not he has received only 33 representations, there is overwhelming evidence that the vast majority of people concerned in this issue would far prefer the 10s. unit than the pound? Will the Government be prepared to reconsider their decision?

Mr. Callaghan

No, Sir, I do not agree with that on the basis of the correspondence which I am getting. I have had an analysis made. I agree that there are a great many vocal lobbies on the subject—indeed, few subjects arouse greater interest—and a great many views are expressed to me. I think, however, that most of the case that is made for the 10s. unit is based on the initial period of three months and the question of how easy it will be to assimilate it. I do not think that when deciding the long-term nature and future of the coinage, it should be determined on the basis of three months' associability.

Mr. G. Campbell

Will the Chancellor reconsider very seriously the Treasury's present preference, because it would be expensive and would waste valuable time to have to make this change later when almost everyone in the country will be favouring a 10s. unit?

Mr. Callaghan

I am not aware of this. I know that there are a lot of lobbies about the subject, but my information is, and my correspondence shows, that the general public on the whole prefer the pound and the penny—[HON. MEMBERS: "No."]—I am referring to the general public—as the basis of any coinage that will exist.

Mr. Pavitt

Do the protests received by my right hon. Friend include those of the whole of the Co-operative movement, including 800 regional societies?

Mr. Callaghan

I cannot remember, but probably they do—almost certainly, I dare say, because the traders have made up their minds that the general public cannot understand the difference between 10s. and the pound. That is a view which, on the whole, the general public does not share.

Mrs. Thatcher

Are we to understand from the Chancellor's previous replies that his mind is not entirely closed on this matter and that he will reconsider it if sufficient evidence is presented to him that the 10s. unit would be preferable to the pound?

Mr. Callaghan

The Government have issued a White Paper on the subject and that is the Government's policy. So far, no arguments have been adduced that would warrant any suggestion that the Government should change their mind on this matter. A great deal of lobbying is going on, but the arguments stand. I hope that the advocates of the 10s. unit will read the debate in another place yesterday, when they will see how strong is the case.

Mr. Channon

In view of the unsatisfactory nature of the reply, I beg to give notice that I will raise the matter at the earliest opportunity.