§ Mr. Hooleyasked the Chancellor of the Exchequer if he will make a statement about the valuation of finds of treasure trove in view of the criticisms of rewards made to finders by the British Museum.
§ Mr. Joel BarnettAlthough I have not found any justification for complaints about the valuation of finds carried out by the museum, I accept that some reassurance may be needed on this point. I have decided, with the agreement of the British Museum, to set up a reviewing committee under an independent chairman and with members nominated by the British Academy and the Society of Antiquaries, which will review the valuations carried out by the museum.
The terms of reference of the committee will be to ensure that the valuations arrived at are fair and just, as between a willing buyer and willing seller, to announce awards, and to make payments to finders.
The chairman will be Sir John Pilcher and the members, whom I am appointing for terms of three to five years in the first instance, will be Mr. I. O. Chance, Professor J. D. Evans and Mr. C. E. Blunt.
Date of Issue Stock Minimum Lending Rate 14th October 1976 … £400 million 3 per cent. Treasury Stock 1982 … 15 per cent. (from 7th October 1976). 14th October 1976 … £600 million 15½ per cent. Treasury Loan 1998 … 15 per cent. 11th November 1976 … £600 million 15¼ per cent. Treasury Loan 1996 … 15 per cent. 11th November 1976 … £600 million 14 per cent. Treasury Stock 1982 … 15 per cent. 25th November 1976 … £800 million 13 per cent. Exchequer Stock 1980 … 14¾ per cent. (from 19th November). 10th December 1976 … £500 million 15½ per cent. Treasury Loan 1998 A … 14¾ per cent. 31st December 1976 … £750 million 15¼ per cent. Treasury Loan 1966 A … 14¼ per cent. (from 24th December). 7th January 1977 … £600 million 12¾ per cent. Exchequer Stock 1981 … 14 per cent. (from 7th January 1977). 20th January 1977 … £1,250 million 13¾ per cent. Treasury Loan 1993 … 14 per cent. 24th March 1977 … £800 million 12¼ per cent. Exchequer Stock 1992 … 10½ per cent. (from 18th March 1977). 6th April 1977 … … £800 million 9¼ per cent. Exchequer Stock 1982 … 9½ per cent. (from 31st March). Note: Between 20th January and 24th March when there were no issues minimum lending rate was reduced from 14 per cent. to 13¼ per cent. on 21st January, to 12¼ per cent. on 28th January, 12 per cent. on 3rd February. 11 per cent. on 10th March and to 10½ per cent. on 18th March.