§ Mr. Henderson
asked the Chancellor of the Exchequer how many £1 notes are currently in circulation; and what is their average life.
§ Mr. Denzil Davies
Approximately 820 million Bank of England £1 notes and 47 million £1 notes issued by the three Scottish note-issuing banks are currently in circulation. The average life of a Bank of England £1 note is nine months.191W