§ 15. Mr. Neubertasked the Chancellor of the Exchequer if he has any plans to discontinue the use of the halfpenny; and what is his estimate of the percentage of transactions which involve the halfpenny as a price differential.
§ Mr. Denzil DaviesThere is no intention whatever to discontinue the use of the halfpenny. No estimates have been made on the percentage of transactions in which it is used.
§ Mr. NeubertAs four years of Labour Government have halved the purchasing power of the pound, and as the halfpenny is now worth less than the old ½d., abolished in 1969, and is not worth much more than the farthing, abolished in 1961, would it not be more realistic to scrap it?
§ Mr. DaviesNo. I disagree with the hon Gentleman. If he looks at the recorded prices of groceries and small household items, he will see that the halfpenny figures in at least 20 per cent., and, therefore, it is still very important.