HC Deb 05 February 1976 vol 904 c1392
3. Mr. Trotter

asked the Chancellor of the Exchequer when the 50p coin was introduced; and what has been the fall in the value of the pound since that time.

The Financial Secretary to the Treasury (Mr. Robert Sheldon)

The 50p coin was introduced on 14th October 1969; the internal purchasing power of the pound fell by 52 per cent. between October 1969 and December 1975.

Mr. Trotter

As the pound in our pocket has been so obviously devalued in this period, would it not be realistic for the Government to accept that and to introduce a £1 coin, which might be distinguished from other coins by a large hole in the middle?

Mr. Sheldon

The hole in the value of the pound is the responsibility of the several Governments who have held office since 1969. I have no firm views about the introduction of a new coin to replace the £1 note. If there is a demand for it, it will be considered.