§ Mr. David Howellasked the Chancellor of the Exchequer what is his estimate of the total cost of administering Statutory Instrument, 1966, No. 438; and how many public officials in the Bank of England or the Treasury, respectively, are engaged full-time or part-time, respectively, in its administration.
§ Mr. MacDermotThe Bank of England have some four or five people concerned either full-time or part-time in the administration of this measure, and the Treasury two part-time, on policy and Parliamentary questions and other business connected with it. The cost of administering the Order cannot be estimated but I am satisfied that it is low in relation to the benefits achieved.
§ Mr. Braineasked the Chancellor of the Exchequer to what extent persons possessing gold coins in the United Kingdom have surrendered their gold, in accordance with Statutory Instrument, 1966, No. 438.
§ Mr. MacDermotInformation about the total value of gold coins minted after 1837 which have been offered for sale following the making of this Order is not 359W available. Sales to the members of the London Gold Market (which do not represent the whole of the total) amounted to about£270,000 on 21st June, 1967.
§ Mr. Braineasked the Chancellor of the Exchequer what is the total number of gold sovereigns of Queen Elizabeth II for which residents of the United Kingdom have received permission to retain under Statutory Instrument, 1966, No. 438.
§ Mr. MacDermotIt is not possible to say. Authorised collectors are generally permitted to retain up to two specimens of any gold coin, and to add further coins to their collection subject to the same limitation.