HC Deb 17 February 1970 vol 796 cc186-7
10. Mr. David Watkins

asked the Chancellor of the Exchequer if he will take steps to introduce a new banknote, to the value of 250 new pence, when decimal currency becomes operative in 1971.

Mr. William Rodgers

No, Sir; I have seen no evidence that a note of this denomination is necessary, or would be convenient.

Mr. Watkins

Nevertheless, is my hon. Friend aware that, with the growing circulation and popularity of the £5 note, it is now quite frequently tendered for quite small payments, and that there is a genuine need for some intermediate denomination of note, as suggested in my Question?

Mr. Rodgers

Nobody would wish to be dogmatic for all time on this matter. The important issue is that of convenience in the light of experience. I certainly would not object to keeping an open mind.