§ 65. Mr. J. E. B. Hill
asked the Chancellor of the Exchequer what is the definition of the word, billion, when used in Government publications.
§ Mr. Diamond
Because of the differing traditional usages in this country and in the United States of America, it is usual to avoid reference to the term "billion", except where the context makes its sense unambiguous. Applied to United States currency "one billion" means according to the accepted international practice, "one thousand million".